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The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2018 Assets Cash
The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2018 Assets Cash Accounts receivable (net) Inventories Investments $288,860 104,640 295,400 $269,020 96,620 286,060 110,830 Land Equipment Accumulated depreciation-equipment 151,520 325,920 (76,300) $1,090,040 252,910 (68,200) $947,240 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings Total liabilities and stockholders' equity $197,300 19,620 10,900 58,860 221,280 582,080 $1,090,040 $186,610 24,630 8,530 46,410 128,820 552,240 $947,240 Additional data obtained from an examination of the accounts in the ledger for 2049 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 $99,750 cash. d. The common stock was issued for cash. e. There was a $74,360 credit to Retained Earnings for net income. f. There was a $44,520 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. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 000 000 QUI 0 Net cash flow from operating activities Cash flows from (used for) investing activities: i Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Modu Cash at the beginning of the year Cash at the end of the year
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