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 Dec. 31, 20Y9 Dec. 31, 20Y8 $257,650 $242,430 93,340 87,070 263,480 257,800 0 99,880 135,140 0 290,700 227,920 (68,060) (61,460) $972,250 $853,640 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $175,980 $168,170 Accrued expenses payable (operating expenses) 17,500 22,190 Dividends payable 9,720 7,680 Common stock, $10 par 52,500 41,830 Paid-in capital in excess of par-common stock 197,370 116,100 Retained earnings 519,180 497,670 Total liabilities and stockholders' equity $972,250 $853,640