The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Line Item Description	December 31, 20Y9	December 31, 20Y8
Cash	$261,140	$240,960
Accounts receivable (net)	94,600	86,540
Inventories	267,060	256,240
Investments	0	99,270
Land	136,970	0
Equipment	294,640	226,540
Accumulated depreciationequipment	(68,980)	(61,090)
Total assets	$985,430	$848,460
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$178,360	$167,150
Accrued expenses payable (operating expenses)	17,740	22,060
Dividends payable	9,850	7,640
Common stock, $10 par	53,210	41,570
Paid-in capital in excess of parcommon stock	200,040	115,390
Retained earnings	526,230	494,650
Total liabilities and stockholders' equity	$985,430	$848,460

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $116,150 cash.

The common stock was issued for cash.

There was a $71,460 credit to Retained Earnings for net income.

There was a $39,880 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:
Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Depreciation
Gain on sale of investments
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in inventories
Increase in accounts payable
Decrease in accrued expenses payable
Net cash flows from operating activities
Cash flows from (used for) investing activities:
Cash received from sale of investments
Cash paid for purchase of land
Cash paid for purchase of equipment
Net cash flows used for investing activities
Cash flows from (used for) financing activities:
Cash received from sale of common stock
Cash paid for dividends
Net cash flows from financing activities
Net increase in cash
Cash balance, January 1, 20Y9
Cash balance, December 31, 20Y9