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, 2018 $276,760 $255,370 100,260 91,720 283,020 271,550 0 105,210 145,170 0 312,270 240,090 (73,110) (64,740) $1,044,370 $899,200 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $189,030 $177,140 Accrued expenses payable (operating expenses) 18,800 23,380 Dividends payable 10,440 8,090 Common stock, $10 par 56,400 44,060 Paid-in capital in excess of par-common stock 212,010 122,290