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The comparative balance sheet of Merrick Equipment Co . for December 3 1 , 2 0 Y 9 and 2 0 Y 8 , is
The comparative balance sheet of Merrick Equipment Co for December Y and Y is as follows: Dec. Y Dec. Y Assets Cash $ $ Accounts receivable net Inventories Investments Land Equipment Accumulated depreciationequipment Total assets $ $ Liabilities and Stockholders' Equity Accounts payable $ $ Accrued expenses payable Dividends payable Common stock, $ par Paidin capital: Excess of issue price over parcommon stock Retained earnings Total liabilities and stockholders equity $ $ Additional data obtained from an examination of the accounts in the ledger for Y are as follows: Equipment and land were acquired for cash. There were no disposals of equipment during the year. The investments were sold for $ cash. The common stock was issued for cash. There was a $ credit to Retained Earnings for net income. There was a $ 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.
The comparative balance sheet of Merrick Equipment Co for December Y and Y is as follows:
Dec. Y Dec. Y
Assets
Cash $ $
Accounts receivable net
Inventories
Investments
Land
Equipment
Accumulated depreciationequipment
Total assets $ $
Liabilities and Stockholders' Equity
Accounts payable $ $
Accrued expenses payable
Dividends payable
Common stock, $ par
Paidin capital: Excess of issue price over parcommon stock
Retained earnings
Total liabilities and stockholders equity $ $
Additional data obtained from an examination of the accounts in the ledger for Y are as follows:
Equipment and land were acquired for cash.
There were no disposals of equipment during the year.
The investments were sold for $ cash.
The common stock was issued for cash.
There was a $ credit to Retained Earnings for net income.
There was a $ 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.
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