The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Line Item DescriptionDecember 31, 20Y9December 31, 20Y8Assets Cash$283,010$264,780Accounts receivable (net)102,53095,100Inventories289,420281,580Investments0109,080Land148,4500Equipment319,320248,930Accumulated depreciationequipment(74,760)(67,130)Total assets$1,067,970$932,340Liabilities and Stockholders' Equity Accounts payable (merchandise creditors)$193,300$183,670Accrued expenses payable (operating expenses)19,22024,240Dividends payable10,6808,390Common stock, $10 par57,67045,680Paid-in capital in excess of parcommon stock216,800126,800Retained earnings570,300543,560Total liabilities and stockholders' equity$1,067,970$932,340

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 $127,620 cash.
4. The common stock was issued for cash.
5. There was a $70,560 credit to Retained Earnings for net income.
6. There was a $43,820 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.