Statement of Cash Flows—Indirect MethodThe comparative balance sheet of Merrick Equipment Co. forDecember 31,...Statement...

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Accounting

Statement of Cash Flows—Indirect Method
The comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is as follows:
Dec. 31, 20Y9 Dec. 31, 20Y8
Assets
Cash $244,570 $229,080
Accounts receivable (net) 88,600 82,280
Inventories 250,110 243,600
Investments 0 94,370
Land 128,280 0
Equipment 275,950 215,370
Accumulated depreciation—equipment (64,600) (58,080)
Total assets $922,910 $806,620
Liabilities and Stockholders'Equity
Accounts payable $167,050 $158,900
Accrued expenses payable 16,610 20,970
Dividends payable 9,230 7,260
Common stock, $10 par 49,840 39,520
Paid-in capital: Excess of issue price overpar-common stock 187,350 109,700
Retained earnings 492,830 470,270
Total liabilities and stockholders’ equity $922,910 $806,620
Additional data obtained from an examination of the accounts inthe 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 $84,930 cash.
The common stock was issued for cash.
There was a $60,470 credit to Retained Earnings for netincome.
There was a $37,910 debit to Retained Earnings for cashdividends declared.
Required:
Prepare a statement of cash flows, using the indirect method ofpresenting cash flows from operating activities. Use the minus signto indicate cash out flows, cash payments, decreases in cash, orany negative adjustments.
Merrick Equipment Co.
Statement of Cash Flows
Forthe Year Ended December 31, 20Y9
Cash flows from operating activities:
$
Adjustments to reconcile net income to netcash flow from operating activities:
Changes in current operating assets andliabilities:
Net cash flow from operatingactivities $
Cash flows from (used for) investingactivities:
$
Net cash flow used for investingactivities
Cash flows from (used for) financingactivities:
Net cash flow from financingactivities
$
Cash at the beginning of the year
Cash at the end of the year $

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Merrick Equipment Co Statement of Cash Flows For the Year Ended December 31 20Y9 Cash flows from operating activities Net Income 60470 Adjustments to reconcile net income to net cash flow from operating activities Loss on sale See Answer

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In: AccountingStatement of Cash Flows—Indirect MethodThe comparative balance sheet of Merrick Equipment Co. forDecember 31,...Statement of Cash Flows—Indirect MethodThe comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is as follows:Dec. 31, 20Y9Dec. 31, 20Y8AssetsCash$244,570$229,080Accounts receivable (net)88,60082,280Inventories250,110243,600Investments094,370Land128,2800Equipment275,950215,370Accumulated depreciation—equipment(64,600)(58,080)Total assets$922,910$806,620Liabilities and Stockholders'EquityAccounts payable$167,050$158,900Accrued expenses payable16,61020,970Dividends payable9,2307,260Common stock, $10 par49,84039,520Paid-in capital: Excess of issue price overpar-common stock187,350109,700Retained earnings492,830470,270Total liabilities and stockholders’ equity$922,910$806,620Additional data obtained from an examination of the accounts inthe 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 $84,930 cash.The common stock was issued for cash.There was a $60,470 credit to Retained Earnings for netincome.There was a $37,910 debit to Retained Earnings for cashdividends declared.Required:Prepare a statement of cash flows, using the indirect method ofpresenting cash flows from operating activities. Use the minus signto indicate cash out flows, cash payments, decreases in cash, orany negative adjustments.Merrick Equipment Co.Statement of Cash FlowsForthe Year Ended December 31, 20Y9Cash flows from operating activities:$Adjustments to reconcile net income to netcash flow from operating activities:Changes in current operating assets andliabilities:Net cash flow from operatingactivities$Cash flows from (used for) investingactivities:$Net cash flow used for investingactivitiesCash flows from (used for) financingactivities:Net cash flow from financingactivities$Cash at the beginning of the yearCash at the end of the year$

		Dec. 31, 20Y9	Dec. 31, 20Y8
Assets
Cash		$244,570	$229,080
Accounts receivable (net)		88,600	82,280
Inventories		250,110	243,600
Investments		0	94,370
Land		128,280	0
Equipment		275,950	215,370
Accumulated depreciation—equipment		(64,600)	(58,080)
	Total assets	$922,910	$806,620

Liabilities and Stockholders'Equity
Accounts payable		$167,050	$158,900
Accrued expenses payable		16,610	20,970
Dividends payable		9,230	7,260
Common stock, $10 par		49,840	39,520
Paid-in capital: Excess of issue price overpar-common stock		187,350	109,700
Retained earnings		492,830	470,270
	Total liabilities and stockholders’ equity	$922,910	$806,620

Merrick Equipment Co.
Statement of Cash Flows
Forthe Year Ended December 31, 20Y9
Cash flows from operating activities:
	$
Adjustments to reconcile net income to netcash flow from operating activities:


Changes in current operating assets andliabilities:




Net cash flow from operatingactivities		$
Cash flows from (used for) investingactivities:
	$


Net cash flow used for investingactivities
Cash flows from (used for) financingactivities:


Net cash flow from financingactivities
		$
Cash at the beginning of the year
Cash at the end of the year		$