eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2077, is as follows: Dec. 31, Dec. 31, 2018 2017 Assets Cash Accounts receivable (net) Merchandise inventory $78,080 119,980 171,390 Prepaid expenses 6,980 $96,180 129,670 160,720 4,870 287,940 (70,620) $608,760 Equipment Accumulated depreciation equipment 349,130 (90,770) $634,790 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $133,310 $127,230 Mortgage note payable 182,630 Common stock, $1 par 21,000 13,000 Pald-in capital: Excess of issue price over par-common stock 324,000 172,000 Retained earnings 156,480 113,900 Total liabilities and stockholders' equity $634,790 $508,760 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net Income, $109,000 b. Depreciation reported on the income statement, $64,050. c. Equipment was purchased at a cost of $85,090, and fully depreciated equipment costing $23,900 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. 8,000 shares of common stock were issued at $20 for cash. 1. Cash dividends declared and paid, 566,420. Required: Check My Work 3 more Check My Work uses remaining Show Me How eBook Print Item Calculator Required: Prepare a statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash pay adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 2048 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in merchandise inventory 001111 000 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 Cash at the beginning of the year Cash at the end of the year Check My Work 3 more Check My Work uses remaining