Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec. 31, 2079 Dec. 31, 2018 Assets Cash $260,430 Accounts receivable (net) Inventories 94,340 266,330 0 $245,330 88,110 260,890 101,070 Investments Land 136.600 293.850 230,650 Equipment Accumulated depreciation-equipment (68.790) $982,760 (62.200) $863,850 Total assets Liabilities and Stockholders' Equity Accounts payable $177,880 $170.180 Accrued expenses payable 17.690 22,460 Dividends payable 9,830 72770 Common stock, 510 par 53.070 42.330 Paid-in capital Excess of issue price over par-common stock 199.500 117.480 Retained earnings 524 790 503,630 Total abilities and stockholders equity 5982.750 $863.850 Additional data obtained from an examination of the accounts in the leager for 2015 are as follows: 3. Equipment and and were acquired for cash 6. There were no disposals of equipment during the vean. d. The Investments were sold for $90,950 cas d. The common stock was sued for cash e. There was 552 750 credit to retained Earnings fon set income. Total abilities and stockholders' equity $982,760 $863,850 Additional data obtained from an examination of the accounts in the ledger for 2009 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 $90,960 cash. d. The common stock was issued for cash. There was a $61,760 credit to Retained Earings for net income. There was a $40,600 debit to Retained Eamings for cash dividends declared. Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, de Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities Net cash flow from operating activities Cash flow from used for investing activities Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: DU HII II Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the vear Cash at the end of the Year