Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets $286,180 $264,680 103,670 95,060 292,670 281,460 0 109,040 150,110 0 322,900 248,840 (75,600) (67,100) $1,079,930 $931,980 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $195,470 $183,600 Accrued expenses payable (operating expenses) 19,440 24,230 Dividends payable 10,800 8,390 Common stock, $10 par 58,320 45,670 Paid-in capital in excess of par-common stock 219,230 126,750 Retained earnings 576,670 543,340 Total liabilities and stockholders' equity $1,079,930 $931,980 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: 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 $127,580 cash. d. The common stock was issued for cash. e. There was a $77,130 credit to Retained Earnings for net income. f. There was a $43,800 debit to Retained Earnings for cash dividends declared. Cash flows from (used for) operating activities: Net income 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 balance, January 1, 20Y9 Cash balance, December 31, 20Y9 00 000 0000 00 0 10000 0 0