Statement of cash flows$-$direct method applied to PR $14-1B$

The comparative balance sheet of Merrick Equipment Co$.$ for Dec. $31,20Y$ and $20$Y$8,$ is as follows:

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$

Accrued expenses payable $($operating expenses$)$

Dividends payable

Common stock, $$1$ par

Paid$-$in capital in excess of par$-$common stock

The income statement for the year ended December $31,20$Y$9,$ is as follows:

Operating expenses:

Additional data obtained from an examination of the accounts in the ledger for $20Y9$ are as follows:

a$.$ Equipment and land were acquired for cash.

b$.$ There were no disposals of equipment during the year.

c$.$ The investments were sold for $$91,800$ cash.

d$.$ The common stock was issued for cash.

e$.$ There was a $$102,000$ debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from $($used for$)$ operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in

cash, or any negative adjustments.

Merrick Equipment Co$.$

Statement of Cash Flows

For the Year Ended December $31,20$ Y$9$

Cash flows from $($used for$)$ financing activities:

Cash flows from $($used for$)$ operating activities:

Cash flows from $($used for$)$ investing activities:

Cash flows from $($used for$)$ financing activities:

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