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Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Cash Accounts receivable (net)
Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets Dec. 31, 2019 Dec. 31, 20Y8 $234,420 84,920 $217,820 78,230 239,740 231,620 0 89,740 122,960 0 264,500 204,780 (61,920) (55,220) $884,620 $766,970 Liabilities and Stockholders' Equity Accounts payable $160,120 $151,090 Accrued expenses payable 15,920 19,940 Dividends payable 8,850 6,900 Common stock, $10 par 47,770 37,580 Liabilities and Stockholders' Equity Accounts payable $160,120 $151,090 Accrued expenses payable 15,920 19,940 Dividends payable 8,850 6,900 Common stock, $10 par 47,770 37,580 Excess of paid-in capital over par 179,580 104,310 Retained earnings 472,380 447,150 Total liabilities and stockholders' equity $884,620 $766,970 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 $80,770 cash. d. The common stock was issued for cash. e. There was a $61,280 credit to Retained Earnings for net income. f. There was a $36,050 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, 20Y9 Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 20Y9 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: Net cash flows used for investing activities Cash flows from (used for) financing activities: 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) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y9 Cash balance, December 31, 2019
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