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The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

		Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Cash		$56,230		$69,270
Accounts receivable (net)		86,400		93,380
Merchandise inventory		123,420		115,730
Prepaid expenses		5,030		3,510
Equipment		251,430		207,360
Accumulated depreciation-equipment		(65,370)		(50,850)
	Total assets	$457,140		$438,400
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$96,000		$91,630
Mortgage note payable		0		131,520
Common stock, $1 par		14,000		9,000
Excess of paid-in capital over par		219,000		124,000
Retained earnings		128,140		82,250
	Total liabilities and stockholders equity	$457,140		$438,400

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

Net income, $117,480.

Depreciation reported on the income statement, $31,730.

Equipment was purchased at a cost of $61,280, and fully depreciated equipment costing $17,210 was discarded, with no salvage realized.

The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.

5,000 shares of common stock were issued at $20 for cash.

Cash dividends declared and paid, $71,590.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Orange Angel Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8

Cash flows from (used for) operating activities:	blank
Common stockDepreciation expenseInventoryNet incomeRetained earningsNet income	$Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities:	blank
Cash dividendsDecrease in accounts receivableDepreciationNet incomeRetained earningsDepreciation	Depreciation
Changes in current operating assets and liabilities:	blank
Decrease in accounts payableDecrease in accounts receivableDecrease in inventoryDepreciationIncrease in accounts receivableDecrease in accounts receivable	Decrease in accounts receivable
Decrease in accounts payableDecrease in merchandise inventoryDecrease in prepaid expensesIncrease in accounts receivableIncrease in merchandise inventoryIncrease in merchandise inventory	Increase in merchandise inventory
Decrease in accounts payableDecrease in inventoryDecrease in prepaid expensesIncrease in prepaid expensesDepreciationIncrease in prepaid expenses	Increase in prepaid expenses
Decrease in accounts payableDecrease in prepaid expensesDepreciationIncrease in accounts payableNet incomeIncrease in accounts payable	Increase in accounts payable
Net cash flows from operating activities	blank	$fill in the blank 13
Cash flows from (used for) investing activities:	blank
Cash received from issuing common stockCash paid for equipmentCash dividendsCash paid for prepaid expensesCash paid to retire mortgage noteCash paid for equipment	$Cash paid for equipment
Net cash flows used for investing activities	blank	fill in the blank 16
Cash flows from (used for) financing activities:	blank
Cash received from customersCash received from depreciationCash received from net incomeCash received from retained earningsCash received from issuing common stockCash received from issuing common stock	$Cash received from issuing common stock
Cash paid for accounts payableCash dividendsCash paid for equipmentCash paid for inventoryCash paid for prepaid expensesCash dividends	Cash dividends
Cash paid for accounts payableCash paid for accumulated depreciationCash paid for depreciationCash paid for inventoriesCash paid to retire mortgage note payableCash paid to retire mortgage note payable	Cash paid to retire mortgage note payable
Net cash flows from financing activities	blank	fill in the blank 23
DepreciationNet decrease in cashNet incomeNet increase in cashNet lossNet decrease in cash	blank	$Net decrease in cash
Cash balance, January 1, 20Y8	blank	fill in the blank 26
Cash balance, December 31, 20Y8	blank	$fill in the blank 27

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