Statement of Cash Flows-Indirect 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 Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $274,240 $256,880 99,350 92,260 280,450 273,140 105,830 143,850 309,430 241,500 (72,440) (65,120 Total assets $1,034,880 $904,490 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $187,310 $178,180 23,520 8,140 44,320 123,010 527,320 $1,034,880 $904,490 18,630 10,350 55,880 210,080 552,630 Total liabilities and stockholders' equity 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 $95,250 cash d. The common stock was issued for cash e. There was a $67,820 credit to Retained Earnings for net income f. There was a $42,510 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: Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year