Print 1. PR.13.01B.ALGO (Algorithmic) Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2018, is as follows: Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity Dec. 31, 2019 Dec. 31, 20Y8 $289,180 $269,010 104,760 96,620 295,740 286,050 0 110,820 151,680 0 326,280 252,910 (76,390) (68,200) $1,091,250 $947,210 $197,520 $186,600 19,640 24,630 10,910 8,520 58,930 46,410 221,520 128,820 582,730 552,230 $1,091,250 $947,210 Additional data obtained from an examination of the accounts in the ledger for 2019 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 $129,660 cash. d. The common stock was issued for cash. e. There was a $75,020 credit to Retained Earnings for net income. f. There was a $44,520 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, 2019 Cash flows from (used for) operating activities: 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: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2019 $