Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets $286,950 $264,470 Cash 103,950 94,990 Accounts receivable (net) 293,460 281,230 Inventories 0 108,960 Investments 0 Land 150,510 323,770 (75,800) 248,640 Equipment Accumulated depreciation-equipment (67,050) $1,082,840 $931,240 Total assets $195,990 $183,450 19,490 10,830 24,210 8,380 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity 58,470 219,820 578,240 45,630 126,650 542,920 $1,082,840 $931,240 Previous Check My Work 3 more Check My Work uses remaining Email Instructor Save and Ex Submit Assa All work saved Liabilities and Stockholders' Equity Accounts payable $183,450 $195,990 19,490 Accrued expenses payable 24,210 Dividends payable 10,830 8,380 Common stock, $10 par 58,470 45,630 126,650 Excess of paid-in capital over par. 219,820 578,240 542,920 Retained earnings $1,082,840 $931,240 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 20y9 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 $98,060 cash. d. The common stock was issued for cash. e. There was a $79,090 credit to Retained Earnings for net income. 1. There was a $43,770 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flows from itsed for) operating activities. Use the minus sign to indicate cash payments, decreases in cash, or any negative adjustments. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Previous ched y WeCheck My Work uses remaining eBook Show Me How 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, 2019 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: C Net cash flows from operating activities Cash flows from (used for) Investing activities Net cash flows used for investing activities Cash flows from (used for hinancing activities:
