Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec. 31, 2049 Dec. 31, 2018 $242,030 87,680 247,510 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment Total assets $225,410 80,960 239,680 92,860 126,950 273,090 (63,930) $913,330 211,910 (57,140) $793,680 Liabilities and Stockholders' Equity Accounts payable $165,310 $156,350 Accrued expenses payable 16,440 20,640 Dividends payable 9,130 7,140 Common stock, $10 par 49,320 38,890 Paid-in capital: Excess of issue price over par-common stock 185,410 107,940 Retained earnings 487,720 462,720 Total liabilities and stockholders' equity $913,330 $793,680 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 $83,570 cash. d. The common stock was issued for cash. e. There was a $62,300 credit to Retained Earnings for net income. f. There was a $37,300 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 operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 0 00 00. 0 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 at the beginning of the year Cash at the end of the year