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, 20Y9 Dec. 31, 20Y8 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $70,720$47,940 188,190 289,850 102,000 207,230 298,520 0 295,800 438,600 358,020 (99,110) (84,320) $1,211,760 $901,680 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $205,700 $194,140 26,860 20,400 102,000 204,000 354,280 $1,211,760 $901,680 30,600 25,500 202,000 354,000 393,960 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 $91,800 cash d. The common stock was issued for cash e. There was a $141,680 credit to Retained Earnings for net income. f. 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 flows 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, 20Y9 Cash flows from 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 investing activities: Net cash flow from operating activities Cash flows from investing activities: 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