Dec. $31,$

$20$Y$9$ Dec. $31,$

$20$Y$8$

Assets

Cash $$228,140$ $$211,240$

Accounts receivable $($net$)82,65075,870$

Inventories $233,290224,640$

Investments $087,030$

Land $119,6700$

Equipment $257,410198,600$

Accumulated depreciation$$equipment $(60,260)(53,560)$

Total assets $$860,900$ $$743,820$

Liabilities and Stockholders' Equity

Accounts payable $$155,820$ $$146,530$

Accrued expenses payable $15,50019,340$

Dividends payable $8,6106,690$

Common stock, $$10$ par $46,49036,450$

Excess of paid$-$in capital over par $174,760101,160$

Retained earnings $459,720433,650$

Total liabilities and stockholders' equity $$860,900$ $$743,820$

Additional data obtained from an examination of the accounts in the ledger for $20$Y$9$ are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $$78,330$ cash.

The common stock was issued for cash.

There was a $$61,030$ credit to Retained Earnings for net income.

There was a $$34,960$ 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 $31,20$Y$9$

Cash flows from $($used for$)$ operating activities: blank

Net income

$Net income

$73,310$

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities: blank

Depreciation

Depreciation

$7,910$

Loss on sale of investments

Loss on sale of investments

Changes in current operating assets and liabilities: blank