Question

Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Dec. 31, 2019 Dec. 31, 2018 ssets Cash Accounts receivable (net) Inventories Investments Land $251,460 91,090 257,150 $233,110 83,720 247,890 96,030 131,900 283,720 Equipment Accumulated deſreciation equipment Total assets (66,420) $948,900 219,150 (59,100) $820,800 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $171,750 $161,700 Accrued expenses payable (operating expenses) 17,080 21,340 Dividends payable 9,490 7,390 Common stock, $10 par 51,240 40,220 Pald-in capital in excess of par-common stock 192,630 111,630 Retained earnings 506,710 478,520 Total liabilities and stockholders' equity $948,900 $820,800 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: Check My Work S more Check My Worker

Answer 1

$ 66,770.00 $ $ 7,320.00 (16,330.00) $ $ $ $ (7,370.00) (9,260.00) 10,050.00 (4,260.00) Merrick Equipment Co. Statement of Cash Flows For Year Ended December 31.20y9 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Depreciation Gain on sale of investments Changes in Current operating assets and liabilities Increase in accounts receivable Increase in Inventories Increase in accounts payable Decrease in accrued expense payable Net cash provided by operating activities Cash flows from investing activities Cash received from sale of investments cash paid for purchase of land cash paid for purchase of equipment Net cash used in investing activities Cash flows from financing activities Cash received from sale of stock Cash paid for dividends Net cash from financing activities Increase (decrease) in cash Cash balance at beginning of the year Cash balance at ending of the year $ (19,850.00) $ 1,12,360.00 $(1,31,900.00) $ (64,570.00) $ (84,110.00) $ 92,020.00 $ (36,480.00) $ 55,540.00 $ 18,350.00 $ 2,33,110.00 $2,51,460.00