The comparative balance sheet of Merrick Equipment Co for December 31, 20Y9 and 20Y8, is as follows Dec 31, 20Y9 Dec 31, 20Y8 Assets Cash $261,410 $245,130 Accounts receivable (net) 94,700 88,040 Inventories 267,310 260,670 Investments 0 100,990 Land 137,120 0 Equipment 294,950 230,460 Accumulated depreciationequipment (69,050) (62,150) Total assets $986,440 $863,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $178,550 $170,040 Accrued expenses payable (operating expenses) 17,760 22,440 Dividends payable 9,860 7,770 Common stock, $10 par 53,270 42,290 Paid in capital in excess of parcommon stock 200,250 117,390 Retained earnings 526,750 503,210 Total liabilities and stockholders equity $986,440 $863,140 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 $118,160 cash The common stock was issued for cash There was a $64,110 credit to Retained Earnings for net income There was a $40,570 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 Merrick Equipment Co Statement of Cash Flows For the Year Ended December 31, 20Y9 Merrick Equipment Co Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from (used for) operating activities Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities Net cash flow from operating activities Cash flows from (used for) investing activities Net cash flow used for investing activities Cash flows from (used for) financing activities o Net cash flow from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2049

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Posted on Jul 18, 2024

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

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

	Dec. 31, 20Y9	Dec. 31, 20Y8
Assets
Cash	$261,410	$245,130
Accounts receivable (net)	94,700	88,040
Inventories	267,310	260,670
Investments	0	100,990
Land	137,120	0
Equipment	294,950	230,460
Accumulated depreciationequipment	(69,050)	(62,150)
Total assets	$986,440	$863,140

Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$178,550	$170,040
Accrued expenses payable (operating expenses)	17,760	22,440
Dividends payable	9,860	7,770
Common stock, $10 par	53,270	42,290
Paid-in capital in excess of parcommon stock	200,250	117,390
Retained earnings	526,750	503,210
Total liabilities and stockholders equity	$986,440	$863,140

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 $118,160 cash.
The common stock was issued for cash.
There was a $64,110 credit to Retained Earnings for net income.
There was a $40,570 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.

Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9

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Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: o Net cash flow from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2049