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

Dec. 31, 20Y9Dec. 31, 20Y8Assets Cash$273,590 $257,430 Accounts receivable (net)99,110 92,460 Inventories279,780 273,750 Investments0 106,050 Land143,500 0 Equipment308,690 242,020 Accumulated depreciationequipment(72,270) (65,260) Total assets$1,032,400 $906,450 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors)$186,860 $178,570 Accrued expenses payable (operating expenses)18,580 23,570 Dividends payable10,320 8,160 Common stock, $10 par55,750 44,420 Paid-in capital in excess of parcommon stock209,580 123,280 Retained earnings551,310 528,450 Total liabilities and stockholders equity$1,032,400 $906,450

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

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $124,080 cash.
4. The common stock was issued for cash.
5. There was a $65,460 credit to Retained Earnings for net income.
6. There was a $42,600 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.