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) $264,430 $245,410 95,790 88,140 Inventories 270,420 260,980 Investments Land Equipment Accumulated depreciation-equipment Total assets 0 101,100 138,700 0 298,350 230,720 (69,850) (62,220) $997,840 $864,130 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $180,610 $170,230 Accrued expenses payable (operating expenses) 17,960 22,470 Dividends payable 9,980 7,780 Common stock, $10 par 53,880 42,340 Paid-in capital in excess of par-common stock 202,560 117,520 Retained earnings 532,850 503,790 Total liabilities and stockholders' equity $997,840 $864,130 Additional data obtained from an examination of the accounts in the ledger for 20Y9 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 $118,290 cash. d. The common stock was issued for cash. e. There was a $69,670 credit to Retained Earnings for net income. f. There was a $40,610 debit to Retained Earnings for cash dividends declared. 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. Statement of Cash Flows For the Year Ended December 31, 20Y9 Line Item Description Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) Investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, 2019 Cash balance, December 31, 2019 Amount Amount Q80 8080 QOOQ 000000