Statement of Cash Flows The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Assets Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $258,830 $239,110 Accounts receivable (net) 93,760 85,880 Inventories 264,690 254,260 Investments 0 98,500 Land 135,760 0 Equipment 292,030 224,790 Accumulated depreciation-equipment (68,370) (60,620) Total assets $976,700 $841,920 Liabilities and Stockholders' Equity Accounts payable $176,780 $165,860 Accrued expenses payable 17,580 21,890 Dividends payable 9,770 7,580 Common stock, $10 par 52,740 41,250 Excess of paid-in capital over par 198,270 114,500 Retained earnings 521,560 490,840 Total liabilities and stockholders' equity $976,700 $841,920 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 $88,650 cash. d. The common stock was issued for cash. e. There was a $70,290 credit to Retained Earnings for net income. f. There was a $39,570 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 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 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 financing activities Cash balance, January 1, 20Y9 Cash balance, December 31, 20Y9 00 0000000