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 20 Y 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 $118 , 290 cash. d. The common stock was issued for cash. e. There was a $69 , 670 credit to Retained Earnings for net income. f. There was a $40 , 610 debit to Retained Earnings for cash dividends declared. Merrick Eauioment Co