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		$246,500		$228,250
Accounts receivable (net)		89,300		81,980
Inventories		252,070		242,700
Investments		0		94,030
Land		129,300		0
Equipment		278,130		214,580
Accumulated depreciationequipment		(65,110)		(57,860)
Total assets		$930,190		$803,680
Liabilities and Stockholders' Equity
Accounts payable		$168,360		$158,320
Accrued expenses payable		16,740		20,900
Dividends payable		9,300		7,230
Common stock, $10 par		50,230		39,380
Excess of paid-in capital over par		188,830		109,300
Retained earnings		496,730		468,550
Total liabilities and stockholders' equity		$930,190		$803,680

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

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $84,630 cash.

The common stock was issued for cash.

There was a $65,950 credit to Retained Earnings for net income.

There was a $37,770 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, 20Y9

Cash flows from (used for) operating activities:	blank
Cash dividendsCash paid for landCash received from issuing common stockCash received from sale of investmentsNet incomeNet income	$Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities:	blank
Cash dividendsCash paid for landCash received from issuing common stockDepreciationRetained earningsDepreciation	Depreciation
Cash received from net incomeCash received from the sale of common stockGain on sale of investmentsLoss on sale of investmentsRetained earningsLoss on sale of investments	Loss on sale of investments
Changes in current operating assets and liabilities:	blank
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesIncrease in accounts receivableLoss on sale of investmentsIncrease in accounts receivable	Increase in accounts receivable
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesGain on sale of investmentsIncrease in inventoriesIncrease in inventories	Increase in inventories
Decrease in accounts payableDecrease in accounts receivableDecrease in accrued expensesDecrease in inventoriesIncrease in accounts payableIncrease in accounts payable	Increase in accounts payable
Decrease in accounts payableDecrease in accrued expenses payableDecrease in dividends payableDepreciationIncrease in accrued expenses payableDecrease in accrued expenses payable	Decrease in accrued expenses payable
Net cash flows from operating activities	blank	$fill in the blank 15
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 earningsCash received from sale of investments	$Cash received from sale of investments
Cash paid for accounts payableCash paid for accumulated depreciationCash paid for common stockCash paid for depreciationCash paid for purchase of landCash paid for purchase of land	Cash paid for purchase of land
Cash paid for accounts receivableCash paid for accrued expensesCash paid for accumulated depreciationCash paid for inventoriesCash paid for purchase of equipmentCash paid for purchase of equipment	Cash paid for purchase of equipment
Net cash flows used for investing activities	blank	fill in the blank 22
Cash flows from (used for) financing activities:	blank
Cash received from issuing common stockCash received from net incomeCash received from sale of equipmentCash received from sale of inventoriesCash received from sale of investmentsCash received from issuing common stock	$Cash received from issuing common stock
Cash dividendsCash paid for inventoriesCash paid for purchase of equipmentCash paid for purchase of investmentsCash paid for purchase of landCash dividends	Cash dividends
Net cash flows from financing activities	blank	fill in the blank 27
Net decrease in cashNet increase in cashNet increase in cash	blank	$Net increase in cash
Cash balance, January 1, 20Y9	blank	fill in the blank 30
Cash balance, December 31, 20Y9	blank	$fill in the blank 31