Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20v8, is as follows Dec. 31, Dec. 31, 209 208 Assets Cash $277,870 $260,270 Accounts receivable (net) 100,660 93,480 Inventories 284,170 276,780 107,230 Investments 0 Land 145,750 Equipment 313,530 244,690 (65,990) Accumulated depreciation-equipment (73,400) Total assets $1,048,580 $916,460 Liabilities and Stockholders' Equity Accounts payable $180,540 $189,790 Accrued expenses payable 18,870 23,830 Dividends payable 10,490 8,250 Common stock, $10 par 56,620 44,910 Paid-in capital: Excess of issue price over par-common stock 212,860 124,640 Retained earnings 559,950 534,290 Total liabilities and stockholders' equity $1,048,580 $916,460 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 b. There were no disposals of equipment during the year c. The investments were sold for $96,510 cash. d. The common stock was issued for cash. e. There was a $68,730 credit to Retained Earnings for net income. f. There was a $43,070 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 activiti 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, 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 (used for) investing activities Net cash flow 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 at the beginning of the year Cash at the end of the year