Statement of cash flowsindirect method

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Line Item Description	December 31, 20Y9	December 31, 20Y8
Assets
Cash	$314,520	$295,270
Accounts receivable (net)	113,940	106,050
Inventories	321,630	313,990
Investments	0	121,640
Land	164,970	0
Equipment	354,870	277,590
Accumulated depreciationequipment	(83,080)	(74,860)
Total assets	$1,186,850	$1,039,680
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$214,820	$204,820
Accrued expenses payable (operating expenses)	21,360	27,030
Dividends payable	11,870	9,360
Common stock, $10 par	64,090	50,940
Paid-in capital in excess of parcommon stock	240,930	141,400
Retained earnings	633,780	606,130
Total liabilities and stockholders' equity	$1,186,850	$1,039,680

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $142,320 cash.
4. The common stock was issued for cash.
5. There was a $76,510 credit to Retained Earnings for net income.
6. There was a $48,860 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Line Item Description	Amount	Amount
Cash flows from (used for) operating activities:	blank
Cash paid for dividendsCash received from sale of common stockCash received from sale of investmentsLoss on sale of investmentsNet income	$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities:	blank
Accumulated depreciationCash paid for dividendsCash received from sale of common stockDepreciationRetained earnings	- Select -
Cash paid for dividendsCash received from the sale of common stockGain on sale of investmentsLoss on sale of investmentsRetained earnings	- Select -
Changes in current operating assets and liabilities:	blank
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesIncrease in accounts receivableLoss on sale of investments	- Select -
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesGain on sale of investmentsIncrease in inventories	- Select -
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoriesIncrease in accounts payableIncrease in accrued expenses	- Select -
Decrease in accounts payableDecrease in accrued expenses payableDecrease in dividends payableIncrease in accrued expenses payableIncrease in land	- Select -
Net cash flows from financing activitiesNet cash flows from investing activitiesNet cash flows from operating activitiesNet cash flows used for financing activitiesNet cash flows used for operating activities	blank	$- Select -
Cash flows from (used for) investing activities:	blank
Cash received from gain on sale of investmentsCash received from loss on sale of investmentsCash received from sale of common stockCash received from sale of investmentsCash received from retained earnings	$- Select -
Cash paid for accounts payableCash paid for accumulated depreciationCash paid for common stockCash paid for dividendsCash paid for purchase of land	- Select -
Cash paid for accounts receivableCash paid for accrued expensesCash paid for accumulated depreciationCash paid for purchase of equipmentCash paid for retained earnings	- Select -
Net cash flows from financing activitiesNet cash flows from investing activitiesNet cash flows from operating activitiesNet cash flows used for investing activitiesNet cash flows used for operating activities	blank	- Select -
Cash flows from (used for) financing activities:	blank
Cash received from net incomeCash received from sale of common stockCash received from sale of equipmentCash received from sale of investmentsCash received from retained earnings	$- Select -
Cash paid for dividendsCash paid for inventoriesCash paid for purchase of investmentsCash paid for purchase of landCash paid for retained earnings	- Select -
Net cash flows from financing activitiesNet cash flows from investing activitiesNet cash flows from operating activitiesNet cash flows used for financing activitiesNet cash flows used for investing activities	blank	- Select -
Cash received from gain on sale of investmentsCash received from loss on sale of investmentsCash received from sale of common stockNet decrease in cashNet increase in cash	blank	$- Select -
Cash balance, January 1, 20Y9	blank	Cash balance, January 1, 20Y9
Cash balance, December 31, 20Y9