144,770 Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 2048 Cash flows from (used for) operating activities: Net Income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 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 used for financing activities INDI Cash balance, January 1, 2018 Cash balance, December 31, 2048 Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec. 31, 20Y8 Dec 31, 2047 Assets Cash $56,050 $68,690 Accounts receivable (net) 86,120 92,600 Inventories 123,040 114,760 Prepaid expenses 5,010 3,480 Equipment 250,620 205,620 Accumulated depreciation equipment (65,160) (50,430) Total assets $455,680 $434,720 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $95,690 $90,860 Mortgage note payable 0 130,420 Common stock, $1 par 14,000 9,000 Pald-in capital in excess of par-common stock 208,000 123,000 Retained earnings 137,990 81,440 Total liabilities and stockholders' equity $455,680 $434,720 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, $144,770. b. Depreciation reported on the income statement, $31,800. c. Equipment was purchased at a cost of $62,070 and fully depreciated equipment costing $17,070 was discarded, with no salvage re d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty, Accounts payao merchandise creators) 395,690 3909860 Mortgage note payable 0 130,420 Common stock, $1 par 14,000 9,000 Pald-in capital in excess of par-common stock 200,000 123,000 Retained earnings 137.990 81,440 Total liabilities and stockholders' equity $455,680 $434,720 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2078 are as follows: a. Net income, $144,770. b. Depreciation reported on the income statement, 534,800. c. Equipment was purchased at a cost of $62,070 and fully deprecated equipment costing $17,070 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 e. 5,000 shares of common stock were issued at $18 for cash Cash dividends dedared and paid, $88,220 Required: 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, decrbases in cath, or any negative adjustments Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 2048 Cash flows from (used for) operating activities Net income 144,770 Adjustments to reconcile net income to net cash flow from operating activities! Depreciation Canges in current operating assets and liabilities HII