Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 2088, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets Cash $230,620 $217,000 83,540 77,940 Accounts receivable (net) Inventories Investments 235,840 230,750 0 89,400 Land 120,970 0 Equipment 260,210 204,010 Accumulated depreciation equipment (60,920) (55,010) Total assets $870,260 $764,090 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $157,520 $150,530 Accrued expenses payable (operating expenses) 15,660 19,870 Dividends payable 8,700 6,880 Common stock, $10 par 46,990 37,440 Paid-in capital in excess of par-common stock 176,660 103,920 Retained earnings 464,730 445,450 Total liabilities and stockholders' equity $870,260 $764,090 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 $104,600 cash. d. The common stock was issued for cash. e. There was a $55,190 credit to Retained Earnings for net income. f. There was a $35,910 debit to Retained Earnings for cash dividends declared. f. There was a $35,910 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: I ll ll. 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