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 $$241,110$ $$226,620$

Accounts receivable $($net$)87,35081,390$

Inventories $246,570240,980$

Investments $093,360$

Land $126,4700$

Equipment $272,050213,050$

Accumulated depreciation$$equipment $(63,690)(57,450)$

Total assets $$909,860$ $$797,950$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$164,680$ $$157,200$

Accrued expenses payable $($operating expenses$)16,38020,750$

Dividends payable $9,1007,180$

Common stock, $$10$ par $49,13039,100$

Paid$-$in capital in excess of par$$common stock $184,700108,520$

Retained earnings $485,870465,200$

Total liabilities and stockholders' equity $$909,860$ $$797,950$

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 $$109,230$ cash.

The common stock was issued for cash.

There was a $$58,170$ credit to Retained Earnings for net income.

There was a $$37,500$ 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

$$-$ Select $-$

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

$-$ Select $-$

$-$ Select $-$

Changes in current operating assets and liabilities: blank

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

blank $$-$ Select $-$

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

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

blank $-$ Select $-$

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

$$-$ Select $-$

$-$ Select $-$

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$9$