Statement of Cash FlowsIndirect Method

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	$230,940		$213,600
Accounts receivable (net)	83,660		76,710
Inventories	236,170		227,130
Investments	0		88,000
Land	121,140		0
Equipment	260,580		200,810
Accumulated depreciationequipment	(61,000)		(54,150)
Total assets	$871,490		$752,100
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$157,740		$148,160
Accrued expenses payable (operating expenses)	15,690		19,550
Dividends payable	8,710		6,770
Common stock, $10 par	47,060		36,850
Paid-in capital in excess of parcommon stock	176,910		102,290
Retained earnings	465,380		438,480
Total liabilities and stockholders equity	$871,490		$752,100

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 $102,960 cash.
4. The common stock was issued for cash.
5. There was a $62,250 credit to Retained Earnings for net income.
6. There was a $35,350 debit to Retained Earnings 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, decreases in cash, or any negative adjustments.

Cash flows from (used for) operating activities:	blank
Cash paid for dividends/ Cash paid for land/ Cash received from sale of common stock/ Cash received from sale of investments/ Loss on sale of investments/ Net income	$- Select -
Adjustments to reconcile net income to net cash flow from operating activities:	blank
Accumulated depreciation/ Cash paid for dividends/ Cash paid for land/ Cash received from sale of common stock/ Depreciation/ Retained earnings	- Select -
Cash paid for dividends/ 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	- Select -
Changes in current operating assets and liabilities:	blank
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesDepreciationIncrease in accounts receivableLoss on sale of investments	- Select -
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesGain on sale of investmentsIncrease in accrued expensesIncrease in inventories	- Select -
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesIncrease in accounts payableIncrease in accrued expensesLoss on sale of investments	- Select -
Decrease in accounts payableDecrease in accrued expenses payableDecrease in dividends payableDepreciationIncrease in accrued expenses payableIncrease in land	- Select -
Net cash flow 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 loss on sale of investmentsCash received from net incomeCash received from sale of common stockCash 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 dividendsCash 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 equipmentCash paid for retained earnings	- Select -
Net cash flow used for investing activities	blank	fill in the blank 22
Cash flows from (used for) financing activities:	blank
Cash received from net incomeCash received from sale of common stockCash received from sale of equipmentCash received from sale of inventoriesCash received from sale of investmentsCash received from retained earnings	$- Select -
Cash paid for dividendsCash paid for inventoriesCash paid for purchase of equipmentCash paid for purchase of investmentsCash paid for purchase of landCash paid for retained earnings	- Select -
Net cash flow from financing activities	blank	fill in the blank 27
Cash received from gain on sale of investmentsCash received from loss on sale of investmentsCash received from net incomeCash received from sale of common stockNet decrease in cashNet increase in cash	blank	$- Select -
Cash balance, January 1, 20Y9	blank	fill in the blank 30
Cash balance, December 31, 20Y9	blank	$fill in the blank 31