The comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is...

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Accounting

The comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is as follows:
Dec. 31, 20Y9 Dec. 31, 20Y8
Assets
Cash $267,060 $250,430
Accounts receivable (net) 96,750 89,940
Inventories 273,100 266,320
Investments 0 103,170
Land 140,080 0
Equipment 301,330 235,440
Accumulated depreciation—equipment (70,540) (63,490)
Total assets $1,007,780 $881,810
Liabilities and Stockholders'Equity
Accounts payable $182,410 $173,720
Accrued expenses payable 18,140 22,930
Dividends payable 10,080 7,940
Common stock, $10 par 54,420 43,210
Paid-in capital: Excess of issue price overpar-common stock 204,580 119,930
Retained earnings 538,150 514,080
Total liabilities and stockholders’ equity $1,007,780 $881,810
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 $92,850 cash.
The common stock was issued for cash.
There was a $65,520 credit to Retained Earnings for netincome.
There was a $41,450 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 outflows, cash payments, decreases in cash, or anynegative adjustments.
Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9
Cash flows from operating activities:
$
Adjustments to reconcile net income to net cash flow fromoperating 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 at the beginning of the year
Cash at the end of the year $

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Solution Merrick Equipment Co Statement of Cash Flows For the Year Ended December 31 20Y9 Cash flows from operating activities Net income 6552000 Adjustments to reconcile net income to net cash flow from operating activities Depreciation 705000 Loss on sale of investments 1032000 Changes in current operating assets See Answer

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In: AccountingThe comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is as...The comparative balance sheet of Merrick Equipment Co. forDecember 31, 20Y9 and 20Y8, is as follows:Dec. 31, 20Y9Dec. 31, 20Y8AssetsCash$267,060$250,430Accounts receivable (net)96,75089,940Inventories273,100266,320Investments0103,170Land140,0800Equipment301,330235,440Accumulated depreciation—equipment(70,540)(63,490)Total assets$1,007,780$881,810Liabilities and Stockholders'EquityAccounts payable$182,410$173,720Accrued expenses payable18,14022,930Dividends payable10,0807,940Common stock, $10 par54,42043,210Paid-in capital: Excess of issue price overpar-common stock204,580119,930Retained earnings538,150514,080Total liabilities and stockholders’ equity$1,007,780$881,810Additional 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 $92,850 cash.The common stock was issued for cash.There was a $65,520 credit to Retained Earnings for netincome.There was a $41,450 debit to Retained Earnings for cashdividends declared.Required:Prepare a statement of cash flows, using the indirect method ofpresenting cash flows from operating activities. Use the minus signto indicate cash outflows, cash payments, decreases in cash, or anynegative adjustments.Merrick Equipment Co.Statement of Cash FlowsFor the Year Ended December 31, 20Y9Cash flows from operating activities:$Adjustments to reconcile net income to net cash flow fromoperating 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 activitiesCash flows from (used for) financing activities:Net cash flow from financing activities$Cash at the beginning of the yearCash at the end of the year$

		Dec. 31, 20Y9	Dec. 31, 20Y8
Assets
Cash		$267,060	$250,430
Accounts receivable (net)		96,750	89,940
Inventories		273,100	266,320
Investments		0	103,170
Land		140,080	0
Equipment		301,330	235,440
Accumulated depreciation—equipment		(70,540)	(63,490)
	Total assets	$1,007,780	$881,810

Liabilities and Stockholders'Equity
Accounts payable		$182,410	$173,720
Accrued expenses payable		18,140	22,930
Dividends payable		10,080	7,940
Common stock, $10 par		54,420	43,210
Paid-in capital: Excess of issue price overpar-common stock		204,580	119,930
Retained earnings		538,150	514,080
	Total liabilities and stockholders’ equity	$1,007,780	$881,810

Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9
Cash flows from operating activities:
	$
Adjustments to reconcile net income to net cash flow fromoperating 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 at the beginning of the year
Cash at the end of the year		$