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 Liabilities and Stockholders' Equity Dec. 31, 2019 Dec. 31, 20Y8 $274,870 $258,050 99,570 92,680 281,100 274,390 0 106,310 144,170 0 310,130 242,600 (72,610) (65,420) $1,037,230 $908,610 Accounts payable $187,740 $179,000 Accrued expenses payable 18,670 23,620 Dividends payable 10,370 8,180 Common stock, $10 par 56,010 44,520 Excess of paid-in capital over par 210,560 123,570 Retained earnings 553,880 529,720 Total liabilities and stockholders' equity $1,037,230 $908,610 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 $95,680 cash. d. The common stock was issued for cash. e. There was a $66,860 credit to Retained Earnings for net income. f. There was a $42,700 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. L 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: 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 Increase in accrued expenses payable Net cash flows from operating activities Cash flows from (used for) investing activities: Cash received from sale of investments < 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 Increase 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, 20Y9 Cash balance, December 31, 20Y9 0000