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, 2019 Dec. 31, 20Y Assets Cash $288,800 $269,270 Accounts receivable (net) 104,620 96,710 Inventories 295,350 286,340 Investments 0 110,930 Land 151,480 0 Equipment 325,850 253,150 Accumulated depreciation-equipment (76,290) (68,270) Total assets $1,089,810 $948,130 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 197,260 $186,780 Accrued expenses payable (operating expenses) 19,620 24,650 Dividends payable 10,900 8,530 Common stock, $10 par 58,850 46,460 Paid-in capital in excess of par-common stock 221,230 128,950 Retained earnings 581,950 552,760 Total liabilities and stockholders' equity $1,089,810 $948,130 Additional data obtained from an examination of the accounts in the ledger for 2019 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 $129,79 cash. d. The common stock was issued for cash. e. There was a $73,750 credit to Retained Earnings for net income. f. There was a $44,560 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: O 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: Changes in current operating assets and liabilities: 111 $ 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