Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, Dec. 31, 2018 2049 Assets Cash $277,430 $258,080 Accounts receivable (net) 100,500 92,690 Inventories 283,710 274,430 Investments 0 106,320 Land 145,520 0 Equipment 313,030 242,630 Accumulated depreciation-equipment (73,280) (65,430) Total assets $1,046,910 $908,720 Liabilities and Equity $189,490 $179,020 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable 18,840 23,630 10,470 8,180 56,530 44,530 Common stock, $10 par Paid-in capital in excess of par-common stock 212,520 123,590 Retained earnings 559,060 529,770 Total liabilities and stockholders' equity $1,046,910 $908,720 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 $124,390 cash. d. The common stock was issued for cash. e. There was a $72,000 credit to Retained Earnings for net income. f. There was a $42,710 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, 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: 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