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		$239,840		$222,340
Accounts receivable (net)		86,890		79,850
Inventories		245,270		236,440
Investments		0		91,600
Land		125,800		0
Equipment		270,620		209,030
Accumulated depreciationequipment		(63,350)		(56,370)
	Total assets	$905,070		$782,890
Liabilities and Stockholders' Equity
Accounts payable		$163,820		$154,230
Accrued expenses payable		16,290		20,360
Dividends payable		9,050		7,050
Common stock, $10 par		48,870		38,360
Paid-in capital: Excess of issue price over par-common stock		183,730		106,470
Retained earnings		483,310		456,420
	Total liabilities and stockholders equity	$905,070		$782,890

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 $82,440 cash.
4. The common stock was issued for cash.
5. There was a $63,690 credit to Retained Earnings for net income.
6. There was a $36,800 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:
Depreciation	____
Loss on sale of investments	____
Changes in current operating assets and liabilities:
Increase in accounts receivable	____
Increase in inventories	____
Increase in accounts payable	____
Decrease in accrued expenses payable	____
Net cash flow from operating activities		$_____
Cash flows from (used for) investing activities:
Cash from sale of investments	$_____
Cash used for purchase of land	____
Cash used for purchase of equipment	____
Net cash flow used for investing activities		____
Cash flows from (used for) financing activities:
Cash from sale of common stock	____
Cash used for dividends	____
Net cash flow from financing activities		____
Increase in cash		$___
Cash at the beginning of the year		___
Cash at the end of the year		$___