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 $$295,110$ $$274,520$

Accounts receivable $($net$)106,91098,600$

Inventories $301,790291,920$

Investments $0113,090$

Land $154,7900$

Equipment $332,970258,090$

Accumulated depreciation$$equipment $(77,950)(69,600)$

Total assets $$1,113,620$ $$966,620$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$201,570$ $$190,420$

Accrued expenses payable $($operating expenses$)20,05025,130$

Dividends payable $11,1408,700$

Common stock, $$10$ par $60,14047,360$

Paid$-$in capital in excess of par$$common stock $226,060131,460$

Retained earnings $594,660563,550$

Total liabilities and stockholders' equity $$1,113,620$ $$966,620$

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 $$132,320$ cash.

The common stock was issued for cash.

There was a $$76,540$ credit to Retained Earnings for net income.

There was a $$45,430$ 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$9$