Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2018, is as follows: Dec. 31, 2019 Dec. 31, 20Y8 Assets Cash Accounts receivable (net) Inventories $295,350 106,990 5275,700 99,020 293,160 302,050 0 113,580 Investments Land 154,920 0 Equipment 333,240 259,190 Accumulated depreciation-equipment (78,020) (69,890) Total assets $1,114,530 5970,760 5201,730 $191,240 20,060 25,240 11,150 8,740 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Excess of pald-in capital over par Retained earnings Total liabilities and stockholders' equity 60,180 47,570 132,020 226,250 595,160 565,950 $1,114,530 5970,760 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $102,220 cash. d. The common stock was issued for cash. e. There was a $74,840 credit to Retained Earnings for net income. f. There was a $45,630 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, 2049 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities Cash flows from (used for) investing activities: O Net cash flows used for investing activities Cash flows from (used for) financing activities: o Net cash flows from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2019