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, 20Y9 Dec. 31, 2018 $291,370 $270,730 105,550 97,230 297,980 287,900 0 111,530 152,830 0 328,760 254,530 (76,970) (68,640) $1,099,520 $953,280 Accounts payable $199,010 $187,800 Accrued expenses payable 19,790 24,790 Dividends payable 11,000 8,580 Common stock, $10 par 59,370 46,710 Excess of paid-in capital over par 223,200 129,650 Retained earnings 587,150 555,750 Total liabilities and stockholders' equity $1,099,520 $953,280 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 $100,380 cash. d. The common stock was issued for cash. e. There was a $76,200 credit to Retained Earnings for net income. f. There was a $44,800 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: 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 0000 00 K Show Me How Print Item eBook 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, 2019 Feedback 00 00 0000 0