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The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2049 Dec. 31, 2048 Assets Cash $296,440 $274,170 Accounts receivable (net) 107,390 98,470 Inventories 303,140 291,540 Investments 0 112,950 Land 155,490 Equipment 334,470 257,760 Accumulated depreciation equipment (78,300) (69,510) Total assets $1,118,630 $965,380 0 Liabilities and Stockholders' Equity Accounts payable $202,470 $190,180 Accrued expenses payable 20,140 25,100 Dividends payable 11,190 8,690 Common stock, $10 par 60,410 47,300 Paid-in capital: Excess of issue price over par-common stock 227,080 131,290 Retained earnings 597,340 562,820 Total liabilities and stockholders' equity $1,118,630 $965,380 Additional data obtained from an examination of the accounts in the ledger for 20y9 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 $101,660 cash. c. The investments were sold for $101,660 cash. d. The common stock was issued for cash. e. There was a $79,890 credit to Retained Earnings for net income. f. There was a $45,370 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, 2049 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 0 Net cash flow from operating activities Cash flows from (used for) investing activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: DU III OD 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 at the beginning of the year Cash at the end of the year

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