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 $$70,720$ $$47,940$

Accounts receivable $($net$)207,230188,190$

Inventories $298,520289,850$

Investments $0102,000$

Land $295,8000$

Equipment $438,600358,020$

Accumulated depreciation$$equipment $(99,110)(84,320)$

Total assets $$1,211,760$ $$901,680$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$205,700$ $$194,140$

Accrued expenses payable $($operating expenses$)30,60026,860$

Dividends payable $25,50020,400$

Common stock, $$1$ par $202,000102,000$

Paid$-$in capital in excess of par$$common stock $354,000204,000$

Retained earnings $393,960354,280$

Total liabilities and stockholders' equity $$1,211,760$ $$901,680$

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 $$91,800$ cash.

The common stock was issued for cash.

There was a $$141,680$ credit to Retained Earnings for net income.

There was a $$102,000$ 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:

$$-$ Select $-$

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

$-$ Select $-$

$-$ Select $-$

Changes in current operating assets and liabilities:

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

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

$$-$ Select $-$

$-$ Select $-$

blank

$-$ Select $-$

$-$ Select $-$

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

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

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

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