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	$294,340		$272,860
Accounts receivable (net)	106,630		98,000
Inventories	301,000		290,150
Investments	0		112,410
Land	154,390		0
Equipment	332,110		256,530
Accumulated depreciationequipment	(77,750)		(69,180)
Total assets	$1,110,720		$960,770
Liabilities and Stockholders' Equity
Accounts payable	$201,040		$189,270
Accrued expenses payable	19,990		24,980
Dividends payable	11,110		8,650
Common stock, $10 par	59,980		47,080
Excess of paid-in capital over par	225,480		130,660
Retained earnings	593,120		560,130
Total liabilities and stockholders' equity	$1,110,720		$960,770

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 $101,170 cash.
4. The common stock was issued for cash.
5. There was a $78,150 credit to Retained Earnings for net income.
6. There was a $45,160 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.