Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2018, is as follows: Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets Dec. 31, 20Y9 Dec. 31, 20Y8 $278,970 $261,300 101,060 93,850 285,290 277,870 0 107,650 146,330 0 314,760 245,660 (73,690) (66,250) $1,052,720 $920,080 Liabilities and Stockholders' Equity Accounts payable $190,540 $181,260 Accrued expenses payable 18,950 23,920 Dividends payable 10,530 8,280 Common stock, $10 par 56,850 45,080 Paid-in capital: Excess of issue price over par-common stock 213,700 125,130 Retained earnings 562,150 536,410 Total liabilities and stockholders' equity $1,052,720 $920,080 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 $96,890 cash. d. The common stock was issued for cash. e. There was a $68,980 credit to Retained Earnings for net income. f. There was a $43,240 debit to Retained Earnings for cash dividends declared. Required: 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