2049 and 2 Net cash flow from operating activities, $ 154,260 PR 16-58 Statement of cash flows direct method applied to PR 16-1 The comparative balance sheet of Merrick Equipment Co. for Dec 31 is as follows: Dec 31, 2019 $ 70,720 207 230 298,520 Excel Cash.... Accounts receivable (net) .. 295,800 438.600 (99.110) $1.211.760 WO Land ... Equipment Accumulated depreciation equipment Total assets Liabilities and Stockholders'Equity Accounts payable .. Accrued expenses payable..... Dividends payable. Common stock, $1 par... Paid-in capital: Excess of issue price over par-commons Retained earnings.. Total liabilities and stockholders'equity.... $ 205,700 30.600 25,500 202.000 354,000 393,960 $1,211.760 5194.14 26. 20 AGO 102.000 354 280 S901 SAD 2099, is as follows: The income statement for the year ended December 31, 2099, is 52.023 1245476 $ 778.422 5 246,333 (10.200 $ 236,133 94453 $ 141.580 Sales .. Cost of merchandise sold ....... Gross profit.. Operating expenses: $ 14,790 Depreciation expense.... 517,299 Other operating expenses ..... Total operating expenses.... 532.009 Operating income........ Other expenses: Loss on sale of investments ..... Income before income tax ................ Income tax expense.... Net income...... Additional data obtained from an examination of the accounts in the led 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 $91,800 cash. d. The common stock was issued for cash. e. There was a $102,000 debit to Retained Earnings for cash dividends decla Instructions Prepare a statement of cash flows, using the direct method of presenting cash flow operating activities. in the ledger for 2049