Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Dec. 31, 20Y9 Dec. 31, 2018 $315,730 $294,380 114,380 105,730 322,890 313,040 0 121,280 165,610 0 356,240 276,760 (83,400) (74,630) $1,191,450 $1,036,560 Accounts payable (merchandise creditors) $215,650 $204,200 Accrued expenses payable (operating expenses) 21,450 26,950 Dividends payable 11,910 9,330 Common stock, $10 par 64,340 50,790 Paid-in capital in excess of par-common stock 241,860 140,970