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

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The Comparative Balance Sheet Of Merrick Equipment Co For December 31 20y9 And 20y8 Is As Follows Dec 31 20y9 Dec 1 (103.84 KiB) Viewed 35 times

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 $239,920 $224,720 Accounts receivable (net) 86,910 80,710 Inventories 245,350 238,970 Investments 0 92,580 Land 125,840 0 Equipment 270,700 211,270 Accumulated depreciation-equipment (63,370) (56,970) Total assets $905,350 $791,280 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $163,870 $155,880 Accrued expenses payable (operating expenses) 16,300 20,570 Dividends payable 9,050 7,120 Common stock, $10 par 48,890 38,770 Paid-in capital in excess of par-common stock 183,790 107,610 Retained earnings 483,450 461,330 Total liabilities and stockholders' equity $905,350 $791,280 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 $108,320 cash. d. The common stock was issued for cash. e. There was a $59,310 credit to Retained Earnings for net income. f. There was a $37,190 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, 20Y9 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 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 balance, January 1, 20Y9 Cash balance, December 31, 20Y9 000 to 100 000 0000 10000 0