Statement of Cash Flows

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

		Dec. 31, 20Y9		Dec. 31, 20Y8
Assets
Cash		$260,810		$240,370
Accounts receivable (net)		94,480		86,330
Inventories		266,700		255,610
Investments		0		99,030
Land		136,800		0
Equipment		294,270		225,990
Accumulated depreciationequipment		(68,890)		(60,940)
Total assets		$984,170		$846,390
Liabilities and Stockholders' Equity
Accounts payable		$178,130		$166,740
Accrued expenses payable		17,720		22,010
Dividends payable		9,840		7,620
Common stock, $10 par		53,150		41,470
Excess of paid-in capital over par		199,790		115,110
Retained earnings		525,540		493,440
Total liabilities and stockholders' equity		$984,170		$846,390

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $89,130 cash.
4. The common stock was issued for cash.
5. There was a $71,880 credit to Retained Earnings for net income.
6. There was a $39,780 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.

Cash flows from (used for) operating activities:
Cash dividends, Cash paid for land, Cash received from issuing common stock, Cash received from sale of investments, Net income	$______
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Cash dividends, Cash paid for land, Cash received from issuing common stock, Depreciation, Retained earnings	$______
Cash received from net income, Cash received from the sale of common stock, Gain on sale of investments, Loss on sale of investments, Retained earnings	$______
Changes in current operating assets and liabilities:
Decrease in accounts payable, Decrease in accounts receivable, Decrease in inventories, Increase in accounts receivable, Loss on sale of investments	$______
Decrease in accounts payable, Decrease in accounts receivable, Decrease in inventories, Gain on sale of investments, Increase in inventories	$______
Decrease in accounts payable, Decrease in accounts receivable, Decrease in accrued expenses, Decrease in inventories, Increase in accounts payable	$______
Decrease in accounts payable, Decrease in accrued expenses payable, Decrease in dividends payable, Depreciation, Increase in accrued expenses payable	$______
Net cash flows from operating activities		$______
Cash flows from (used for) investing activities:
Cash received from gain on sale of investments, Cash received from issuing common stock, Cash received from loss on sale of investments, Cash received from sale of investments, Cash received from retained earnings	$______
Cash paid for accounts payable, Cash paid for accumulated depreciation, Cash paid for common stock, Cash paid for depreciation, Cash paid for purchase of land	$______
Cash paid for accounts receivable, Cash paid for accrued expenses, Cash paid for accumulated depreciation, Cash paid for inventories, Cash paid for purchase of equipment	$______
Net cash flows used for investing activities		$______
Cash flows from (used for) financing activities:
Cash received from issuing common stock, Cash received from net income, Cash received from sale of equipment, Cash received from sale of inventories, Cash received from sale of investments	$______
Cash dividends, Cash paid for inventories, Cash paid for purchase of equipment, Cash paid for purchase of investments, Cash paid for purchase of land	$______
Net cash flows from financing activities		$______
Net decrease in cash, Net increase in cash		$______
Cash balance, January 1, 20Y9		$______
Cash balance, December 31, 20Y9		$______