Statement of cash flows$$indirect method

The comparative balance sheet of Merrick Equipment Co$.$ for December $31,20$Y$9$ and $20$Y$8,$ is as follows:

Line Item Description December $31,20$Y$9$ December $31,20$Y$8$

Assets

Cash $$305,490$ $$282,540$

Accounts receivable $($net$)110,670101,470$

Inventories $312,390300,450$

Investments $0116,400$

Land $160,2400$

Equipment $344,680265,620$

Accumulated depreciation$$equipment $(80,690)(71,630)$

Total assets $$1,152,780$ $$994,850$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$208,650$ $$195,990$

Accrued expenses payable $($operating expenses$)20,75025,870$

Dividends payable $11,5308,950$

Common stock, $$10$ par $62,25048,750$

Paid$-$in capital in excess of par$$common stock $234,010135,300$

Retained earnings $615,590579,990$

Total liabilities and stockholders' equity $$1,152,780$ $$994,850$

Additional data obtained from an examination of the accounts in the ledger for $20$Y$9$ are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $$136,190$ cash.

The common stock was issued for cash.

There was a $$82,360$ credit to Retained Earnings for net income.

There was a $$46,760$ debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect 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$9$

Line Item Description Amount Amount

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

$

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities: blank

$-$ Select $-$

Changes in current operating assets and liabilities: blank

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blank $$-$ Select $-$

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

$$-$ Select $-$

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blank $-$ Select $-$

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

$$-$ Select $-$

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blank $-$ Select $-$

blank $$-$ Select $-$

Cash balance, January $1,20$Y$9$ blank Cash balance, January $1,20$Y$9$

Cash balance, December $31,20$Y$9$ blank $Cash balance, December $31,20$Y$9$