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 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 Check My Work 3 more Check My Work uses remaining. Dec. 31, 2019 Dec. 31, 2018 $286,500 $267,430 103,790 96,050 292,990 284,380 110,180 150,280 0 323,260 251,430 (75,680) (67,800) $1,081,140 $941,670 $195,690 $185,510 19,460 24,480 10,810 8,480 58,380 46,140 219,470 128,070 577,330 548,990 $1,081,140 $941,670 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 $99,160 cash. d. The common stock was issued for cash. e. There was a $72,600 credit to Retained Earnings for net income. f. There was a $44,260 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, 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: Net cash flows from operating activities Cash flows from (used for) investing activities: 100 0000000 0 CH 16 Problems assignme 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: B Net cash flows from financing activities Cash balance, January 1,20Y9 Cash balance, December 31, 20Y9 0000