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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 $275,320 $256,110
Accounts receivable (net) 99,740 91,980
Inventories 281,550 272,340
Investments 0 105,510
Land 144,410 0
Equipment 310,640 240,780
Accumulated depreciationequipment (72,730) (64,930)
Total assets $1,038,930 $901,790
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors) $188,050 $177,650
Accrued expenses payable (operating expenses) 18,700 23,450
Dividends payable 10,390 8,120
Common stock, $10 par 56,100 44,190
Paid-in capital in excess of parcommon stock 210,900 122,640
Retained earnings 554,790 525,740
Total liabilities and stockholders equity $1,038,930 $901,790

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 $123,450 cash.
  4. The common stock was issued for cash.
  5. There was a $71,430 credit to Retained Earnings for net income.
  6. There was a $42,380 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
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:
$
Net cash flow from financing activities
$
Cash balance, January 1, 20Y9
Cash balance, December 31, 20Y9 $

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