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, 2049 Dec. 31, 2048 Assets Cash $273,590 99,110 Accounts receivable (net) $253,330 90,980 269,390 104,360 Inventories 279,790 O Investments Land Equipment 143,500 308,690 (72,270) Accumulated depreciation-equipment 238,160 (54,220) $892,000 Total assets $1,032,410 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $186,870 18,580 10,320 55,750 209,580 $175,720 23,190 8,030 43,710 121,310 Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings 551,310 520,040 Total liabilities and stockholders' equity $1,032,410 $892,000 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 $93,920 cash. d. The common stock was issued for cash. e. There was a $73,190 credit to Retained Earnings for net income. f. There was a $41,920 debit to Retained Earnings for cash dividends declared. Cash flows from (used for) financing activities: Cash from sale of common stock -32,300 Cash used for dividends -41,920 Net cash flow from financing activities