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, 20YS $296,820 $273,880 107,530 98,370 303,520 291,230. 0 112,830 155,690 0 334,900 257,490 (78,400) (69,430) $1,120,060 $964,370 Accounts payable (merchandise creditors) $202,730 $189,980 Accrued expenses payable (operating expenses) 20,160 25,070 Dividends payable 11,200 8,680 Common stock, $10 par 60,480 47,250 Paid-in capital in excess of par-common stock 227,370 131,150 Retained earnings 598.120 562.240