The comparative balance sheet of Merrick Equipment Co$.$ for December $31,20$ Y$9$ and $20$Y$8,$ is as follows:

Dec. $31,$ Dec. $31,$

$20Y920Y8$

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 $$78,690$ cash.

d$.$ The common stock was issued for cash.

f$.$ There was a $$58,660$ credit to Retained Earnings for net income.

f$.$ There was a $$35,120$ 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.

Merrick Equipment Co$.$

Statement of Cash Flows

For the Year Ended December $31,20$ Y$9$

Cash flows from $($used for$)$ operating activities:

$

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:

Changes in current operating assets and liabilities:

$5$

Net cash flows from operating activities

Cash flows from $($used for$)$ investing activities:

Net cash flows used for investing activities

Cash flows from $($used for$)$ financing activities:

$2]$

Net cash flows from financing activities

Cash balance, January $1,20$Y$9$

Cash balance, December $31,20$ Y$9$