Paragraph Statement of cash flows-indirect method Obj 2, 3, 4, 5 0 PR 13-1B The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20YS Assets 70,720 207,230 298520 47,940 188,190 289,850 102,000 Cash Accounts receivable (net) . .. Inventories Investments.... Land Equipment. Accumulated depreciation-equipment... Total assets... 438,600 358,020 (99.110)(84.320) $1.211.760 901,680 Liabilities and Stockholders' Equity 205,700 30,600 25,500 202,000 $194,140 26,860 20,400 102,000 204,000 960 354280 $901.680 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses). Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock.... Retained earnings Total liabilities and stockholders' equity. .. . .. $1,211,760 n. 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 $91,800 cash. D. The common stock was issued for cash. E. There was a $141,680 credit to Retained Earnings for net income. F. There was a $102,000 debit to Retained Earnings for cash dividends declared Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities Net Cash Flow from Operating Activities is $154,260 Beno