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:

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

Assets

Cash $$305,430$ $$285,100$

Accounts receivable $($net$)110,640102,390$

Inventories $312,350303,180$

Investments $0117,450$

Land $160,2000$

Equipment $344,610268,030$

Accumulated depreciation$$equipment $(80,680)(72,280)$

Total assets $$1,152,550$ $$1,003,870$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$208,610$ $$197,760$

Accrued expenses payable $($operating expenses$)20,75026,100$

Dividends payable $11,5309,030$

Common stock, $$10$ par $62,24049,190$

Paid$-$in capital in excess of par$$common stock $233,970136,530$

Retained earnings $615,450585,260$

Total liabilities and stockholders' equity $$1,152,550$ $$1,003,870$

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 $$137,420$ cash.

The common stock was issued for cash.

There was a $$77,370$ credit to Retained Earnings for net income.

There was a $$47,180$ 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$9$