Statement of cash flows $-$indirect methodThe comparative balance sheet of Merrick Equipment Co$.$ for December $31,209$ and $20$Y$8,$ is as follows:December$31,20$Y$9$December$31,20$Y$8$Assets$$70,720$$$47,940$CashAccounts receivable $($net$)207,230188,190298,520289\mathrm{.}850$Inventories$102,000$Investments$295,8000$LandEquipment$438,600358,020$Accumulated depreciation$-$equipment$(99,110)$$$1,211,760(84,320)$$$901,680$Total assetsLiabilities and Stockholders' EquityAccounts payable $($merchandise creditors$)$$$205,70030\mathrm{.}600$$$194,140$Accrued expenses payable $($operating expenses$)26,86025,50020\mathrm{.}400$Dividends payable$202,000102,000$Common stock, $$1$ parPaid$-$in capital in excess of par$-$common stock$354,000204\mathrm{.}000$Retained earnings$393,960354,280$Total liabilities and stockholders' equity$$1,211,760$$$901,680$Additional data obtained from an examination of the accounts in the ledger for $209$ are as follows:a$.$ Equipment and land were acquired for cash..There were no disposals of equipment during the year.c$.$ The Investments were sold for $$91,800$ cash d$.$The common stock was issued for cash.e$.$ There was a $$141,680$ credit to Retained Earnings for net income.f$.$ There was a $$102,000$ debit to Retained Earnings for cash dividends declaredRequired: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 outriows, casn payments, decreases in casn, or annegatinaousemenMerrick Equidment Co$.$Statement of Cash FlowsFor the Year Ended December $31,20$Y$9$Line Item DescriptiorCash flows from $($used for$)$ operating activities:AmOUndERAmOUntAdjustments to reconcile net income to net cash flows from $($used for$)$ operating activitChangesin current operating assets and liabilities:Cash flows from $($used for$)$ investing activities:Cash flows from $($used for$)$ financing activities:Cash balance, January $1,209$Cash balance, December $31,209$