The comparative balance sheet of Merrick Equipment Co$.$ for December $31,20Y9$ and $20$Y$8,$ is as follows:

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 $$91,800$ cash.

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

e$.$ There was a $$141,680$ credit to Retained Earnings for net income.

f$.$ There was a $$102,000$ 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 $31,20Y9$

Line Item Description

Amount Amount

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

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

activities:

I

Changes in current operating assets and liabilities:

s

$.$

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

$!$

Cash balance, January $1,20Y9$

Cash balance, December $31,20Y9$