Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec. 31, Dec. 31, 2079 2018 Assets $312,980 $288,790 Cash Accounts receivable (net) 113,380 103,720 Inventories 320,060 307,110 Investments 0 118,970 Land 0 Equipment Accumulated depreciation-equipment 164,170 353,130 (82,670) $1,181,050 271,510 (73,220) $1,016,880 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) $213,770 $200,330 21,260 26,440 Dividends payable 11,810 9,150 Common stock, $10 par 63,780 49,830 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $213.770 $200,330 Accrued expenses payable (operating expenses) 21,260 26,440 Dividends payable 11,810 9,150 Common stock. $10 par 63,780 49,830 Paid-in capital in excess of par-common stock 239,750 138,300 Retained earnings 630,680 592,830 Total liabilities and stockholders' equity $1,181,050 $1,016,850 Additional data obtained from an examination of the accounts in the ledger for 2079 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. The investments were sold for $139,190 cash d. The common stock was issued for cash. e. There was a $85,640 credit to Retained Earnings for net income. f. There was a $47,790 debit to retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the Indirect method or presenting cash flows from operating activitet. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments, Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from (used for) operating activities: Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Il lui DO Net cash flow from operating activities Cash flows from (used for investing activities 0 Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2019