Can you please help me with this? Cash flows from operating activities:Net incomeAdjustments to reconcile net income to net cashflow from operating activities:DepreciationLoss on sale of investmentsChanges in current operating assets and liabilities:Increase in accounts receivableIncrease in inventoriesIncrease in accounts payableIncrease in accrued expenses payableNet cash flow from operating activitiesCash flows from investing activities:Cash received from sale of investmentsLess cash paid for purchase of landLess cash paid for purchase of equipmentNet cash flow used for investing activitiesMERRICK EQUIPMENT CO.Statement of Cash FlowsFor the Year Ended December 31, 2014Cash flows from financing activities:Cash received from sale of common stockLess cash paid for dividendsNet cash flow provided by financing activitiesOptional:Increase in cashCash at the beginning of the yearCash at the end of the yearCashAccounts receivable (net)InventoriesInvestmentsOperating activities:Net incomeLandEquipmentAccum. depr. - equipmentAccounts payableAccrued expenses payableDividends payableCommon stock, $1 parPaid-in capital in excess of parRetained earningsTotalsDepreciationLoss on sale of investmentsIncrease in accounts receivableIncrease in inventoriesPurchase of equipmentPurchase of landSale of investmentsIncrease in accounts payableIncrease in accrued expenses payableInvesting activities:Financing activities:Net increase in cashTotalsDeclaration of cash dividendsSale of common stockIncrease in dividends payableMERRICK EQUIPMENT CO.Spreadsheet (Work Sheet) for Statement of Cash FlowsFor the Year Ended December 31, 2014Balance,Dec. 31, 201347,940188,190289,850102,000$141,680358,020(84,320)(194,140)(26,860)(20,400)(102,000)(204,000)(354,280)14,79010,200(19,040)(8,670)11,5603,740$ 91,800(295,800)(80,580)$250,000(96,900)$154,260Debit(284,580)Transactions153,100$ 22,78047,940$ 70,720CreditBalance,Dec. 31, 201470,720207,230298,520295,800438,600(99,110)(205,700)(30,600)(25,500)(202,000)(354,000)(393,960) Problems Series BNet cash flow fromoperating activities,$154,260SPREADSHEETNet cash flow fromoperating activities,$561,400SPREADSHEETCashAccounts receivable (net).InventoriesInvestmentsPR 16-18 Statement of cash flows-indirect methodOBJ. 2The comparative balance sheet of Merrick Equipment Co. for December 31, 2014 and2013, is as follows:Land ......Equipment....Accumulated depreciation-equipment..AssetsLiabilities and Stockholders' EquityAccounts payable (merchandise creditors) ...Accrued expenses payable (operating expenses)Dividends payable....Common stock, $1 par...Paid-in capital: Excess of issue price over par-common stock....Retained earnings..CashAccounts receivable (net)Inventories ..Chapter 16 Statement of Cash FlowsPrepaid expensesLand .....AssetsBuildings...Accumulated depreciation-buildings.Dec. 31, 2014$ 70,720207,230298,5200295,800438,600(99,110)$1,211,760Additional data obtained from an examination of the accounts in the ledger for 2014are as follows:Machinery and equipment......Accumulated depreciation-machinery and equipment...Patents..CON$ 205,70030,60025,500202,000354,000393,960$1,211,760a. Equipment and land were acquired for cash.b. There were no disposals of equipment during the year.c. The investments were sold for $91,800 cash.d. The common stock was issued for cash.e. There was a $141,680 credit to Retained Earnings for net income.f. There was a $102,000 debit to Retained Earnings for cash dividends declared.InstructionsPrepare a statement of cash flows, using the indirect method of presenting cash flowsfrom operating activities.PR 16-2B Statement of cash flows-indirect methodOBJ. 2The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2013,is as follows:Dec. 31, 2013$ 47,940188,190289,850102,0000358,020(84,320)$901,680Dec. 31, 2014$194,14026,86020,400102,000204,000354,280$901,680$ 443,240665,280887,88031,640302,4001,713,600(466,200)781,200(214,200)106,960$4,251,800771Dec. 31, 2013$360,920592,2001,022,56025,200302,4001,134,000(414,540)781,200(191,520)112,000$3,724,420(Continued)I

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Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.