Please do not give solution in image format thanku The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:Dec. 31, 20Y9Dec. 31, 20Y8CashAccounts receivable (net)InventoriesInvestmentsLandAssetsEquipmentAccumulated depreciation-equipmentTotal assetsLiabilities and Stockholders' Equity$251,78091,210257,4800132,070284,080(66,510)$950,110$236,10084,800251,07097,2700221,970(59,860)$831,350Accounts payable (merchandise creditors)$171,970$163,780Accrued expenses payable (operating expenses)17,10021,620Dividends payable9,5007,480Common stock, $10 par51,31040,740Paid-in capital in excess of par-common stock192,870113,060.Retained earnings507,360484,670Total liabilities and stockholders' equity$950,110$831,350Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Additional data obtained from an examination of the accounts in the ledger for 2019 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 $113,810 cash.d. The common stock was issued for cash.e. There was a $61,760 credit to Retained Earnings for net income.1. There was a $39,070 debit to Retained Earnings for cash dividends declaredRequired: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, decreasesin cash, or any negative adjustmentsMerrick Equipment Co.Statement of Cash FlowsFor 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 activitiesAdjustments to reconche net income to het casir flow Troff operating activities:Q00 0000Changes in current operating assets and liabilities:Net cash flow from operating activitiesCash flows from (used for) investing activities:Net cash flow used for investing activitiesCash flows from (used for) financing activities:Net cash flow from financing activitiesCash balance, January 1, 20Y9Cash balance, December 31, 20Y900 0000 000 QO

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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. 31, 20Y8 Cash Accounts receivable (net) Inventories Investments Land Assets Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity $251,780 91,210 257,480 0 132,070 284,080 (66,510) $950,110 $171,970 17,100 9,500 $236,100 84,800 251,070 97,270 0 221,970 (59,860) $831,350 Accounts payable (merchandise creditors) $163,780 Accrued expenses payable (operating expenses) 21,620 Dividends payable 7,480 Common stock, $10 par 51,310 40,740 Paid-in capital in excess of par-common stock 192,870 113,060 Retained earnings 507,360 484,670 Total liabilities and stockholders' equity $950,110 $831,350 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Accounts receivable (net) Inventories Investments Land Assets Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity $251,780 91,210 257,480 0 132,070 284,080 (66,510) $950,110 $171,970 17,100 9,500 $236,100 84,800 251,070 97,270 0 221,970 (59,860) $831,350 Accounts payable (merchandise creditors) $163,780 Accrued expenses payable (operating expenses) 21,620 Dividends payable 7,480 Common stock, $10 par 51,310 40,740 Paid-in capital in excess of par-common stock 192,870 113,060 Retained earnings 507,360 484,670 Total liabilities and stockholders' equity $950,110 $831,350 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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