Statement of cash flows-indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Assets December 31, 20Y9 December 31, 20Y8 Cash Accounts receivable (net) $265,590 $249,050 96,210 89,450 Inventories Investments Land Equipment 271,590 264,830 0 102,600 139,310 0 299,660 234,140 < Accumulated depreciation-equipment Total assets (70,150) (63,140) $1,002,210 $876,930 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $181,400 $172,760 Accrued expenses payable (operating expenses) 18,040 22,800 Dividends payable 10,020 7,890 Common stock, $10 par 54,120 42,970 Paid-in capital in excess of par-common stock 203,450 119,260 Retained earnings 535,180 511,250 Total liabilities and stockholders' equity $1,002,210 $876,930 Additional data obtained from an examination of the accounts in the ledger for 2019 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 $120,040 cash. d. The common stock was issued for cash. e. There was a $65,150 credit to Retained Earnings for net income. f. There was a $41,220 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.