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, 2018 Cash Accounts receivable (net) $253,200 $234,450 91,720 84,200 Inventories 258,930 249,310 Investments Land Equipment Accumulated depreciation-equipment Total assets 0 96,590 132,810 0 285,680 220,410 (66,880) (59,440) $955,460 $825,520 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $172,940 $162,630 Accrued expenses payable (operating expenses) 17,200 21,460 Dividends payable 9,550 7,430 Common stock, $10 par 51,590 40,450 Paid-in capital in excess of par-common stock Detained nominee 193,960 112,270 510 220 481 280 Retained earnings Total liabilities and stockholders' equity 510,220 481,280 $955,460 $825,520 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 $113,010 cash. d. The common stock was issued for cash. e. There was a $67,740 credit to Retained Earnings for net income. f. There was a $38,800 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.