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) $226,390 $211,320 82,010 75,900 Inventories Investments 231,520 224,730 0 87,060 Land Equipment Accumulated depreciation-equipment Total assets 118,750 0 255,440 198,670 (59,800) (53,580) $854,310 $744,100 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $154,630 $146,590 Accrued expenses payable (operating expenses) 15,380 19,350 Dividends payable 8,540 6,700 Common stock, $10 par 46,130 36,460 Paid-in capital in excess of par-common stock 173,420 101,200 Retained earnings 456,210 433,800 Total liabilities and stockholders' equity $854,310 $744,100 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 $101,860 cash. d. The common stock was issued for cash. e. There was a $57,380 credit to Retained Earnings for net income. f. There was a $34,970 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. Statement of Cash Flows For the Year Ended December 31, 20Y9 Check My Work 2 more Check My Work uses remaining. Previous G