Statement of Cash FlowsIndirect Method

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Dec. 31, 20Y9 Dec. 31, 20Y8

Assets

Cash $259,870 $241,180

Accounts receivable (net) 94,140 86,620

Inventories 265,770 256,480

Investments 0 99,360

Land 136,310 0

Equipment 293,210 226,750

_{Accumulated depreciation}

_equipment (68,650) (61,150)

Total assets $980,650 $849,240

Liabilities and Stockholders' Equity

Accounts payable $177,500 $167,300

Accrued expenses payable 17,650 22,080

Dividends payable 9,810 7,640

Common stock, $10 par 52,960 41,610

Paid-in capital: Excess of issue

price over par-common stock 199,070 115,500

Retained earnings 523,660 495,110

Total liabilities and

stockholders' equity $980,650 $849,240

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $89,420 cash.
4. The common stock was issued for cash.
5. There was a $68,460 credit to Retained Earnings for net income.
6. There was a $39,910 debit to Retained Earnings for cash dividends declared.

prepare statement of cash flows, using the indirect method of presentingcash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.