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		$312,860		$290,020
Accounts receivable (net)		113,340		104,160
Inventories		319,930		308,420
Investments		0		119,480
Land		164,100		0
Equipment		353,000		272,660
Accumulated depreciationequipment		(82,640)		(73,530)
	Total assets	$1,180,590		$1,021,210
Liabilities and Stockholders' Equity
Accounts payable		$213,690		$201,180
Accrued expenses payable		21,250		26,550
Dividends payable		11,810		9,190
Common stock, $10 par		63,750		50,040
Paid-in capital: Excess of issue price over par-common stock		239,660		138,880
Retained earnings		630,430		595,370
	Total liabilities and stockholders equity	$1,180,590		$1,021,210

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 $107,530 cash.
4. The common stock was issued for cash.
5. There was a $83,060 credit to Retained Earnings for net income.
6. There was a $48,000 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from 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 operating activities:
Net income	$
Adjustments to reconcile net income to net cash flow from operating activities:
Cash paid for land
Changes in current operating assets and liabilities:
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 year
Cash at the end of the year		$