Statement of Cash Flows

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

	Dec. 31, 20Y9		Dec. 31, 20Y8
Assets
Cash	$259,340		$240,140
Accounts receivable (net)	93,950		86,250
Inventories	265,230		255,360
Investments	0		98,930
Land	136,030		0
Equipment	292,620		225,760
Accumulated depreciationequipment	(68,510)		(60,880)
Total assets	$978,660		$845,560
Liabilities and Stockholders' Equity
Accounts payable	$177,140		$166,580
Accrued expenses payable	17,620		21,980
Dividends payable	9,790		7,610
Common stock, $10 par	52,850		41,430
Excess of paid-in capital over par	198,670		115,000
Retained earnings	522,590		492,960
Total liabilities and stockholders' equity	$978,660		$845,560

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $89,040 cash.
4. The common stock was issued for cash.
5. There was a $69,370 credit to Retained Earnings for net income.
6. There was a $39,740 debit to Retained Earnings for cash dividends declared.

Required:

Explain 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.

Cash flows from (used for) operating activities:	blank
Cash dividends Cash paid for land Cash received from issuing common stock Cash received from sale of investments Net income	$Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities:	blank
Cash dividends Cash paid for land Cash received from issuing common stock Depreciation Retained earnings	Depreciation
Cash received from net income Cash received from the sale of common stock Gain on sale of investments Loss on sale of investments Retained earnings	Loss on sale of investments
Changes in current operating assets and liabilities:	blank
Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Increase in accounts receivable Loss on sale of investments Increase in accounts receivable	Increase in accounts receivable
Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Gain on sale of investmentsIncrease in inventories Increase in inventories	Increase in inventories
Decrease in accounts payable Decrease in accounts receivable Decrease in accrued expenses Decrease in inventoriesIncrease in accounts payable Increase in accounts payable	Increase in accounts payable
Decrease in accounts payable Decrease in accrued expenses payable Decrease in dividends payable DepreciationIncrease in accrued expenses payable Increase in accrued expenses payable	Increase in accrued expenses payable
Net cash flows from operating activities	blank	$fill in the blank
Cash flows from (used for) investing activities:	blank
Cash received from gain on sale of investmentsCash received from issuing common stockCash received from loss on sale of investmentsCash received from sale of investmentsCash received from retained earnings	$- Select -
Cash paid for accounts payableCash paid for accumulated depreciationCash paid for common stockCash paid for depreciationCash paid for purchase of land	- Select -
Cash paid for accounts receivableCash paid for accrued expensesCash paid for accumulated depreciationCash paid for inventoriesCash paid for purchase of equipment	- Select -
Net cash flows used for investing activities	blank	fill in the blank
Cash flows from (used for) financing activities:	blank
Cash received from issuing common stock Cash received from net income Cash received from sale of equipment Cash received from sale of inventories Cash received from sale of investments	$- Select -
Cash dividends Cash paid for inventories Cash paid for purchase of equipment Cash paid for purchase of investments Cash paid for purchase of land	- Select -
Net cash flows from financing activities	blank	fill in the blank
Net decrease in cash Net increase in cash	blank	$- Select -
Cash balance, January 1, 20Y9	blank	fill in the blank
Cash balance, December 31, 20Y9	blank	$fill in the blank