Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec. 31, 2019 Dec. 31, 20Y8 Assets Cash $47,940 Accounts receivable (net) $70,720 207,230 298,520 188,190 289,850 Inventories Investments 0 102,000 0 Land Equipment Accumulated depreciation equipment Total assets 295,800 438,600 (99,110) 358,020 (84,320) $1,211,760 $901,680 $ 205,700 $194,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $1 par 30,600 26,860 25,500 20,400 102,000 Pald-in capital: Excess of issue price over par--common stock 202,000 354,000 393,960 204,000 354,280 Retained earnings Total liabilities and stockholders' equity $1,211,760 $901,680 ZUZEU TUZAU eBook Show Me How Printem Common Pald.in capitals Excess of issue price over par-common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $903,690 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 $91,800 cash d. The common stock was issued for cash e. There was a $141,680 credit to Retained Earnings for net income. There was a $102,000 debit to retained Earnings for cash dividends declared Required: Prepare a statement of cash flows, using the Indirect method of presenting cash Nows from operating activities. Use the minus sign to indicate cash out flows, 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 operating activities: Adjustments to reconcile net income to net cash flow from operating activities: I II III Changes in current operating assets and liabilities Print Item 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 investing activities: Il bill bol DO Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Cash at beginning of the year Cash at end of the year