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		$259,950		$242,930
Accounts receivable (net)		94,170		87,250
Inventories		265,850		258,330
Investments		0		100,080
Land		136,350		0
Equipment		293,300		228,390
Accumulated depreciationequipment		(68,670)		(61,590)
Total assets		$980,950		$855,390
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$177,550		$168,510
Accrued expenses payable (operating expenses)		17,660		22,240
Dividends payable		9,810		7,700
Common stock, $10 par		52,970		41,910
Paid-in capital in excess of parcommon stock		199,130		116,330
Retained earnings		523,830		498,700
Total liabilities and stockholders equity		$980,950		$855,390

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 $117,090 cash.
4. The common stock was issued for cash.
5. There was a $65,330 credit to Retained Earnings for net income.
6. There was a $40,200 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.

65,330 Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on sale of investments Changes in current operating assets and liabilities: Decrease in accounts receivable Decrease in inventories Increase in accounts payable Decrease in accrued expenses payable $ Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from gain on sale of investments Cash paid for purchase of land Cash paid for accounts receivable Il llll llll Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Loss on sale of investments Changes in current operating assets and liabilities: Decrease in accounts receivable X 1 llll Decrease in inventories X Increase in accounts payable Decrease in accrued expenses payable o Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from gain on sale of investments X Cash paid for purchase of land Cash paid for accounts receivable O Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flow from financing activities Net increase in cash Cash balance, January 1, 2019 Cash balance, December 31, 2019