Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y9 Assets $282,880 $300,290 Cash 101,600 108,790 Accounts receivable (net) 300,820 307,090 Inventories 116,540 Investments 157.510 Land 265,950 338,820 Equipment (71,720) (79,320) Accumulated depreciation-equipment $996,070 $1.133,180 Total assets Liabilities and Stockholders' Equity $205,110 $196,230 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) 20,400 25,900 Dividends payable 11,330 8,960 Common stock, $10 par 61,190 48,810 Paid-in capital in excess of par-common stock 230,040 135,470 Retained earnings 605,110 580,700 Total liabilities and stockholders' equity $1,133,180 $996.070 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: a. Equipment and land were acquired for cash. Retained earnings $1,133,180 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 20Y9 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 $136,350 cash. d. The common stock was issued for cash. e. There was a $71,230 credit to Retained Earnings for net income. f. There was a $46,820 debit to Retained Earnings for cash dividends declared. Required: Prepare a staternent 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: Previous Next 00 Adjustments to reconcile net income to net cash flow from operating activities: Changes in curent 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 00 0000 000 000 00