The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2018 Assets Cash $252,510 $233,540 Accounts receivable (net) 91,480 83,880 Inventories 258,230 248,360 Investments 0 96,210 Land 132,450 0 284,910 Equipment Accumulated depreciation equipment (66,700) 219,560 (59,210) $822,340 Total assets $952,880 Liabilities and Stockholders' Equity $172,470 17,150 $162,000 21,380 7,400 9,530 Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings 51,460 40,290 193,430 111,840 479,430 508,840 Total liabilities and stockholders' equity $952,880 $822,340 Additional data obtained from an examination of the accounts in the ledger for 2049 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $86,590 cash. d. The common stock was issued for cash. e. There was a $68,060 credit to Retained Earnings for net income. f. There was a $38,650 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, 2019 Cash flows from 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: For the Year Ended December 31, 2019 Cash flows from 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 at the beginning of the year Cash at the end of the year