Chapter 16 eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 20Y8, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets Cash $274,770 Accounts receivable (net) 5297,430 107,750 304,180 98,690 Inventories 292,180 Investments 0 113,200 Land 0 Equipment Accumulated depreciation equipment 156,010 335,590 (78,570) 258,320 (69,660) Total assets $1,122,390 5967,500 5203,150 20,200 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock $190,600 25,160 8,710 11,220 60,610 47,410 227,850 131,580 Retained earnings 599,360 564,040 Total liabilities and stockholders' equity $1,122,390 5967,500 Additional data obtained from an examination of the accounts in the ledger for 2049 are as follows: a. Fouinment and land were acquired for cash. Chapter 16 eBook E Print Item Show Me How Calculator $1,122,390 5967,500 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 20y9 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 $101,880 cash. d. The common stock was issued for cash. e. There was a $80,790 credit to Retained Earnings for net income. f. There was a $45,470 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, 2049 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 100 Net cash flow from operating activities Cash flows from (used for) investing activities: Check My Work 3 more Check My Work uses remaining. Previous Chapter 16 eBook Show Me How Calculator E Print Item 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: bu 1001 Qul 10 0 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 Check My Work 3 more Check My Work uses remaining. Previous Assignment Score: 43.84% Email Instructor Save and Exit Submit Assignment for Grading