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		$297,360		$279,480
Accounts receivable (net)		107,720		100,380
Inventories		304,100		297,190
Investments		0		115,140
Land		155,970		0
Equipment		335,510		262,750
Accumulated depreciationequipment		(78,550)		(70,850)
Total assets		$1,122,110		$984,090
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$203,100		$193,870
Accrued expenses payable (operating expenses)		20,200		25,590
Dividends payable		11,220		8,860
Common stock, $10 par		60,590		48,220
Paid-in capital in excess of parcommon stock		227,790		133,840
Retained earnings		599,210		573,710
Total liabilities and stockholders equity		$1,122,110		$984,090

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 $134,710 cash.
4. The common stock was issued for cash.
5. There was a $71,750 credit to Retained Earnings for net income.
6. There was a $46,250 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 (used for) operating activities:
Adjustments to reconcile net income to net cash flow from operating activities:
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, 20Y9
Cash balance, December 31, 20Y9