Statement of cash flows-indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: December 31, 20Y9 December 31, 20Y8 Assets Cash Accounts receivable (net) Inventories $255,460 $240,650 92,540 86,430 261,240 255,900 Investments Land 0 99,140 134,000 0 Equipment 288,240 226,250 Accumulated depreciation-equipment (67,480) (61,010) Total assets $964,000 $847,360 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $174,480 $166,930 Accrued expenses payable (operating expenses) 17,350 22,030 Dividends payable 9,640 7,630 Common stock, $10 par 52,060 41,520 Paid-in capital in excess of par-common stock 195,690 115,240 Retained earnings 514,780 494,010 Total liabilities and stockholders' equity $964,000 $847,360 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 $115,990 cash. d. The common stock was issued for cash. e. There was a $60,600 credit to Retained Earnings for net income. f. There was a $39,830 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.