The comparative balance sheet of Merrick Equipment Co for December 31, 20Y9 and 20Y8, is as follows Dec 31, 20Y9 Dec 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated ...

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9

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Question:

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

		Dec. 31, 20Y9	Dec. 31, 20Y8
Assets
Cash		$70,720	$47,940
Accounts receivable (net)		207,230	188,190
Inventories		298,520	289,850
Investments		0	102,000
Land		295,800	0
Equipment		438,600	358,020
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)		30,600	26,860
Dividends payable		25,500	20,400
Common stock, $1 par		202,000	102,000
Paid-in capital: Excess of issue price over par—common stock		354,000	204,000
Retained earnings		393,960	354,280
	Total liabilities and stockholders' equity	$1,211,760	$901,680

Additional data obtained from an examination of the accounts in the ledger for 20Y9 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 operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.