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 $$230,430$ $$215,580$

Accounts receivable $($net$)83,47077,430$

Inventories $235,650229,260$

Investments $088,810$

Land $120,8600$

Equipment $259,990202,680$

Accumulated depreciation$$equipment $(60,870)(54,660)$

Total assets $$869,530$ $$759,100$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$157,380$ $$149,540$

Accrued expenses payable $($operating expenses$)15,65019,740$

Dividends payable $8,7006,830$

Common stock, $$10$ par $46,95037,200$

Paid$-$in capital in excess of par$$common stock $176,510103,240$

Retained earnings $464,340442,550$

Total liabilities and stockholders' equity $$869,530$ $$759,100$

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 $$103,910$ cash.

The common stock was issued for cash.

There was a $$57,470$ credit to Retained Earnings for net income.

There was a $$35,680$ 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.