The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets Cash $244,500 $228,490 Accounts receivable (net) 82,060 88,570 250,050 Inventories 242,990 0 94,130 Investments Land 128,250 0 275,870 214,810 Equipment Accumulated depreciation-equipment (64,590) (57,930) Total assets $922,650 $804,550 $167,000 $158,500 16,610 20,920 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Excess of paid-in capital over par Retained earnings 9,230 7,240 49,820 39,420 187,300 109,420 492,690 469,050 Retained earnings 492,690 469,050 Total liabilities and stockholders' equity $922,650 $804,550 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 $84,720 cash. d. The common stock was issued for cash. e. There was a $61,450 credit to Retained Earnings for net income. f. There was a $37,810 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. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: III OL Changes in current operating assets and liabilities: Changes in current operating assets and liabilities: Net cash flows from operating activities Cash flows from (used for) investing activities: . ] lll QUOQO Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2019 $ Changes in current operating assets and liabilities: Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Increase in accounts receivable activities Loss on sale of investments ing activities