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, 2018 ssets Cash Accounts receivable (net) Inventories Investments Land $251,460 91,090 257,150 $233,110 83,720 247,890 96,030 131,900 283,720 Equipment Accumulated dereciation equipment Total assets (66,420) $948,900 219,150 (59,100) $820,800 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $171,750 $161,700 Accrued expenses payable (operating expenses) 17,080 21,340 Dividends payable 9,490 7,390 Common stock, $10 par 51,240 40,220 Pald-in capital in excess of par-common stock 192,630 111,630 Retained earnings 506,710 478,520 Total liabilities and stockholders' equity $948,900 $820,800 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: Check My Work S more Check My Worker 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 $112,360 cash. d. The common stock was issued for cash. e. There was a $66,770 credit to Retained Earnings for net income. f. There was a $39,580 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 II vill du Net cash flow from operating activities Cash flows from (used for investing activities: Check My Work 5 more Check My Work uses remaining. Previous 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: 000 000 000 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