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, 2019 Dec. 31, 2018 Assets Cash Accounts receivable (net) $250,710 90,820 256,390 0 $232,950 83,660 247,720 95,970 Inventories Investments Land 131,500 Equipment Accumulated depreciation equipment 282,870 (66,220) 219,000 (59,060) $820,240 Total assets $946,070 $171,240 17,030 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings $161,590 21,330 7,380 9,460 40,190 51,090 192,050 111,550 505,200 478,200 Total liabilities and stockholders' equity $946,070 $820,240 Additional data obtained from an examination of the accounts in the ledger for 2049 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $112,280 cash. d. The common stock was issued for cash. e. There was a $65,550 credit to Retained Earnings for net income. f. There was a $38,550 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