Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2014 and 2013, is as follows: Dec. 31, 2014 Dec. 31, 2013 Assets Cash 70,720 47,940 Accounts receivable (net) 188,190 207,230 nventories 298,520 289,850 nvestments 102,000 Land 295,800 Equipment 438,600 358,020 Accumulated depreciation-equipment (99,110) (84,320) $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) 205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable. Common stock, $1 par 25,500 20,400 202,000 102,000 Paid in capital Excess of issue price over par-common stock........ 354,000 204,000 Retained earnings 393,960 354,280 $1,211,760 $901,680 Additional data obtained from an examination of the accounts in the ledger for 2014 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 $91,800 cash. d. The common stock was issued for cash e. There was a s141,680 credit to Retained Earnings for net income f. here was a 2,000 debit to Retained Earnings for cash dividends declared Required