? 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 outtiows, cash payments, decreases in cash, or any negative adjustments.

Statement of Cash Flows

For the Year Ended December $31,20Y9$

Line Item Description

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

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

Changes in current operating assets and liabilities:

Cash flows from $($used for$)$ ?investing activities:

Cash flows from $($used for$)$ ?financing activities:

$q$

${?}_{?}$ ?Statement of cash flows$-$indirect method

The comparative balance sheet of Merrick Equipment Co$.$ ?for December $31,20$Y$9$ ?and $20$Y$8,$ ?is as follows:

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 $$108,190$ ?cash.

d$.$ ?The common stock was issued for cash.

e$.$ ?There was a $$56,540$ ?credit to Retained Earnings for net income.

f$.$ ?There was a $$37,150$ ?debit to Retained Earnings for cash dividends declared.

Required:The comparative balance sheet of Merrick Equipment Co$.$ ?for December $31,20$Y$9$ ?and $20$Y$8,$ ?is as follows:

Line Item Description December $31,20$Y$9$ ?December $31,20$Y$8$

Assets

Cash $$238,270$ ?$$224,460$

Accounts receivable $($net$)86,32080,610$

Inventories $243,660238,680$

Investments $092,470$

Land $124,9800$

Equipment $268,840211,020$

Accumulated depreciation$$equipment $(62,940)(56,900)$

Total assets $$899,130$ ?$$790,340$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ ?$$162,740$ ?$$155,700$

Accrued expenses payable $($operating expenses$)16,18020,550$

Dividends payable $8,9907,110$

Common stock, $$10$ ?par $48,55038,730$

Paid$-$in capital in excess of par$$common stock $182,520107,490$

Retained earnings $480,150460,760$

Total liabilities and stockholders' equity $$899,130$ ?$$790,340$

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 $$108,190$ ?cash.

The common stock was issued for cash.

There was a $$56,540$ ?credit to Retained Earnings for net income.

There was a $$37,150$ ?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$9$

Line Item Description Amount Amount

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

$$-$ ?Select $-$

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

$-$ ?Select $-$

$-$ ?Select $-$

Changes in current operating assets and liabilities: blank

$-$ ?Select $-$

$-$ ?Select $-$

$-$ ?Select $-$

$-$ ?Select $-$

blank $$-$ ?Select $-$

Cash flows from $($used for$)$ ?investing activities: blank

$$-$ ?Select $-$

$-$ ?Select $-$

$-$ ?Select $-$

blank $-$ ?Select $-$

Cash flows from $($used for$)$ ?financing activities: blank

$$-$ ?Select $-$

$-$ ?Select $-$

blank $-$ ?Select $-$

blank $$-$ ?Select $-$

Cash balance, January $1,20$Y$9$ ?blank Cash balance, January $1,20$Y$9$

Cash balance, December $31,20$Y$9$ ?blank $Cash balance, December $31,20$Y$9$