Statement of Cash FlowsIndirect Method

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Assets		Dec. 31, 20Y9		Dec. 31, 20Y8
Cash		$286,960		$267,560
Accounts receivable (net)		103,960		96,100
Inventories		293,460		284,510
Investments		0		110,230
Land		150,520		0
Equipment		323,780		251,540
Accumulated depreciationequipment		(75,800)		(67,830)
	Total assets	$1,082,880		$942,110
Liabilities and Stockholders' Equity
Accounts payable		$196,000		$185,600
Accrued expenses payable		19,490		24,490
Dividends payable		10,830		8,480
Common stock, $10 par		58,480		46,160
Paid-in capital: Excess of issue price over par-common stock		219,820		128,130
Retained earnings		578,260		549,250
	Total liabilities and stockholders equity	$1,082,880		$942,110

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 $99,210 cash.
4. The common stock was issued for cash.
5. There was a $73,290 credit to Retained Earnings for net income.
6. There was a $44,280 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.

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