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, Dec. 31, 20Y9 2018 $269,600 97,670 $250,210 89,870 275,690 266,060 0 103,080 141,410 0 304,190 235,240 (71,210) (63,430) $1,017,350 $881,030 Liabilities and Stockholders' Equity Accounts payable $184,140 $173,560 Accrued expenses payable 18,310 22,910 Dividends payable 10,170 7,930 Common stock, $10 par 54,940 43,170 Excess of paid-in capital over par 206,520 119,820 Retained earnings 543,270 513,640 Total liabilities and stockholders' equity $1,017,350 $881,030 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 $92,770 cash. d. The common stock was issued for cash. e. There was a $71,040 credit to Retained Earnings for net income. f. There was a $41,410 debit to Retained Earnings for cash dividends declared.