1 Dec 31, 2048 Dec. 31, 2017 2 Assets 3 Cash $95,000.00 $110,000.00 4 Accounts receivable (net) 260,000.00 280,000.00 5 Inventories 520,000.00 450,000.00 6 Prepaid expenses 15,000.00 5,000.00 1,130,000.00 800,000.00 7 Equipment 8 Accumulated depreciation-equipment (235,000.00) (190,000.00) 9 Total assets $1,785,000.00 $1,455,000.00 10 $100,000.00 $75,000.00 0.00 500,000.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital in excess of par-common stock 15 Retained earnings 500,000.00 200,000.00 400,000.00 100,000.00 785,000.00 580,000.00 16 Total liabilities and stockholders' equity $1,785,000.00 $1,455,000.00 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $250,000 b. Depreciation reported on the income statement, $135,000. c. Equipment was purchased at a cost of $420,000 and fully deprecated equipment costing $90,000 was discarded, with no salvage realized, d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty . 30,000 shares of common stock were issued at $20 for cash 1. Canh dividends declared and paid $45,000 Prepare a statement of cash Nows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions et provided for the wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, cash payments, decreases in can any negative adjustments Instructions Statement of Cash Flows Yellow Dog Enterprises Inc. Statement of Cash Flows (Label) 1 Cash flows from (used for) operating activities: 2 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 5 Changes in current operating assets and liabilities: 6 2 8 9 10 11 12 Cash flows from (used for) investing activities: 13 Statement of Cash Flows 7 8 9 10 11 12 Cash flows from (used for) investing activities: 13 14 15 16 Cash flows from (used for) financing activities: 17 18 19 20 21 22 Cash balance, January 1, 20Y8 23 Cash balance, December 31, 20Y8