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		$223,540		$208,900
Accounts receivable (net)		80,980		75,030
Inventories		228,600		222,140
Investments		0		86,060
Land		117,250		0
Equipment		252,220		196,400
Accumulated depreciationequipment		(59,050)		(52,960)
Total assets		$843,540		$735,570
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$152,680		$144,910
Accrued expenses payable (operating expenses)		15,180		19,120
Dividends payable		8,440		6,620
Common stock, $10 par		45,550		36,040
Paid-in capital in excess of parcommon stock		171,240		100,040
Retained earnings		450,450		428,840
Total liabilities and stockholders equity		$843,540		$735,570

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 $100,690 cash.
4. The common stock was issued for cash.
5. There was a $56,180 credit to Retained Earnings for net income.
6. There was a $34,570 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.