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		$239,880		$222,120
Accounts receivable (net)		86,900		79,770
Inventories		245,310		236,190
Investments		0		91,510
Land		125,820		0
Equipment		270,660		208,820
Accumulated depreciationequipment		(63,360)		(56,310)
	Total assets	$905,210		$782,100
Liabilities and Stockholders' Equity
Accounts payable		$163,840		$154,070
Accrued expenses payable		16,290		20,330
Dividends payable		9,050		7,040
Common stock, $10 par		48,880		38,320
Paid-in capital: Excess of issue price over par-common stock		183,760		106,370
Retained earnings		483,390		455,970
	Total liabilities and stockholders equity	$905,210		$782,100

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 $82,360 cash.
4. The common stock was issued for cash.
5. There was a $64,180 credit to Retained Earnings for net income.
6. There was a $36,760 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.