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		$70,720		$47,940
Accounts receivable (net)		207,230		188,190
Inventories		298,520		289,850
Investments		0		102,000
Land		295,800		0
Equipment		438,600		358,020
Accumulated depreciationequipment		(99,110)		(84,320)
Total assets		$1,211,760		$901,680
Liabilities and Stockholders' Equity
Accounts payable		$205,700		$194,140
Accrued expenses payable		30,600		26,860
Dividends payable		25,500		20,400
Common stock, $1 par		202,000		102,000
Excess of paid-in capital over par		354,000		204,000
Retained earnings		393,960		354,280
Total liabilities and stockholders' equity		$1,211,760		$901,680

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 $91,800 cash.
4. The common stock was issued for cash.
5. There was a $141,680 credit to Retained Earnings for net income.
6. There was a $102,000 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.