Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 2048, is as follows: Dec. 31, 2019 Dec 31, 2048 Assets Cash $282,760 $261,210 102,430 93,820 289,160 277,770 0 107,610 Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment Total assets 148,320 0 319,040 245,580 (74,690) (66,220) $1,067,020 $919,770 $193,130 $181,190 19,210 23,910 10,670 8,280 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 Total liabilities and stockholders' equity 57,620 45,070 216,610 125,090 569,780 536,230 $1,067,020 $919,770 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 $125,900 cash. d. The common stock was issued for cash. e. There was a $76,780 credit to Retained Earnings for net income. f. There was a $43,230 debit to Retained Earnings for cash dividends declared. Required: 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: Il coll de 20 o 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, 2049