The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec. 31, 2049 Dec. 31, 2048 Assets Cash $292,110 $269,230 Accounts receivable (net) 105,820 96,690 Inventories 298,730 286,310 Investments 0 110,910 Land 153,220 0 Equipment 329,590 253,110 Accumulated depreciation equipment (77,160) (68,260) Total assets $1,102,310 $947,990 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $199,520 $186,750 Accrued expenses payable (operating expenses) 19,840 24,650 Dividends payable 11,020 8,530 Common stock, $10 par 59,520 46,450 Paid-in capital in excess of par-common stock 223,770 128,930 Retained earnings 588,640 552,680 Total liabilities and stockholders' equity $1,102,310 $947,990 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 $129,760 cash. d. The common stock was issued for cash. e. There was a $80,520 credit to Retained Earnings for net income. f. There was a $44,560 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 (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 10 DIII II 0 Net cash flow from operating activities Cash flows from (used for) investing activities: o Net cash flow 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, 2049 Cash balance, December 31, 2049