The comparative balance sheet of Merrick Equipment Co for December Y and Y is as follows:
Line Item Description December Y December Y
Assets
Cash $ $
Accounts receivable net
Inventories
Investments
Land
Equipment
Accumulated depreciationequipment
Total assets $ $
Liabilities and Stockholders' Equity
Accounts payable merchandise creditors $ $
Accrued expenses payable operating expenses
Dividends payable
Common stock, $ par
Paidin capital in excess of parcommon stock
Retained earnings
Total liabilities and stockholders' equity $ $
Additional data obtained from an examination of the accounts in the ledger for Y are as follows:
Equipment and land were acquired for cash.
There were no disposals of equipment during the year.
The investments were sold for $ cash.
The common stock was issued for cash.
There was a $ credit to Retained Earnings for net income.
There was a $ 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 Y
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 Y blank Cash balance, January Y
Cash balance, December Y blank $Cash balance, December Y
