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		$231,380		$216,230
Accounts receivable (net)		83,820		77,660
Inventories		236,630		229,950
Investments		0		89,080
Land		121,370		0
Equipment		261,070		203,290
Accumulated depreciationequipment		(61,120)		(54,820)
	Total assets	$873,150		$761,390
Liabilities and Stockholders' Equity
Accounts payable		$158,040		$149,990
Accrued expenses payable		15,720		19,800
Dividends payable		8,730		6,850
Common stock, $10 par		47,150		37,310
Paid-in capital: Excess of issue price over par-common stock		177,250		103,550
Retained earnings		466,260		443,890
	Total liabilities and stockholders equity	$873,150		$761,390

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 $80,170 cash.
4. The common stock was issued for cash.
5. There was a $58,160 credit to Retained Earnings for net income.
6. There was a $35,790 debit to Retained Earnings for cash dividends declared.

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, 20Y9
Cash flows from operating activities:
Net income	$fill in the blank 2
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation	fill in the blank 4
Loss on sale of investments	fill in the blank 6
Changes in current operating assets and liabilities:
Increase in accounts receivable	fill in the blank 8
Increase in inventories	fill in the blank 10
Increase in accounts payable	fill in the blank 12
Decrease in accrued expenses payable	fill in the blank 14
Net cash flow from operating activities		$fill in the blank 15
Cash flows from (used for) investing activities:
Cash from sale of investments	$fill in the blank 17
Cash used for purchase of land	fill in the blank 19
Cash used for purchase of equipment	fill in the blank 21
Net cash flow used for investing activities		fill in the blank 22
Cash flows from (used for) financing activities:
Cash from sale of common stock	fill in the blank 24
Cash used for dividends	fill in the blank 26
Net cash flow from financing activities		fill in the blank 27
Increase in cash		$fill in the blank 29
Cash at the beginning of the year		fill in the blank 30
Cash at the end of the year		$fill in the blank 31