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, 20Y9 Dec. 31, 2018 $275,090 $254,710 99,650 91,480 281,310 270,870 0 104,930 144,290 0 310,380 239,470 (72,660) (64,580) $1,038,060 $896,880 Liabilities and Stockholders' Equity Accounts payable $187,890 $176,690 Accrued expenses payable 18,690 23,320 Dividends payable 10,380 8,070 Common stock, $10 par 56,060 43,950 Excess of paid-in capital over par 210,730 121,980 Retained earnings 554,310 522,870 Total liabilities and stockholders' equity $1,038,060 $896,880 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. h There were no diennesle of enuinment during the year Check My Work 3 more Check My Work uses remaining. eBook Show Me How Print Item Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 20Y9 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Loss on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable < Net cash flows from operating activities Cash flows from (used for) Investing activities: Cash received from sale of investments Cash paid for purchase of land 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 dividends Net cash flows from financing activities Net increase in cash Cash balance, January 1, 2019 Cash balance, December 31, 2019 Check My Work 3 more Check My Work uses remaining. 00 0000 000 00 All work saved. 0000 Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2018, is as follows: Cash Accounts receivable (net) Inventories Investments Assets Land Equipment Accumulated depreciation-equipment Total assets Dec. 31, 2019 Dec. 31, 2018 $275,090 $254,710 99,650 91,480 281,310 270,870 0 104,930 144,290 0 310,380 239,470 (72,660) (64,580) $1,038,060 $896,880. Liabilities and Stockholders' Equity Accounts payable $187,890 $176,690 Accrued expenses payable 18,690 23,320 Dividends payable 10,380 8,070 Common stock, $10 par 56,060 43,950 Excess of paid-in capital over par 210,730 121,980 Retained earnings Total liabilities and stockholders' equity 554,310 522,870 $1,038,060 $896,880 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 $94,440 cash. d. The common stock was issued for cash. e. There was a $73,590 credit to Retained Earnings for net income. f. There was a $42,150 debit to Retained Earnings for cash dividends declared. Required: f. There was a $42,150 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 adjustments. Merrick Equipment Co. < Statement of Cash Flows For the Year Ended December 31, 20Y9 Q 00 0000 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Loss on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable Net cash flows from operating activities Cash flows from (used for) investing activities: Cash received from sale of investments Cash paid for purchase of land 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 dividends Net cash flows from financing activities Net increase in cash Cash balance, January 1, 2019 Cash balance, December 31, 20Y9 0000