eBook Show Me How Statement of cash flows--indirect method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, is as follows: Dec 31, 20Y8 Dec 31, 2017 Assets $81,330 $99,660 Cash Accounts receivable (net) Triventories 124,970 134,360 166,520 178,520 5,050 Prepaid expenses Equipment 7,270 363,660 Accumulated depreciation equipment (94,550) $661,200 298,360 (73,170) $630,780 Total assets 5138,850 $131,830 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital in excess of par-common stock 0 189,230 21,000 13.000 330.000 178,000 Retained earnings 171,350 115.720 Total abilities and stockholders equity $661,200 $630,780 68F Sunny 12:12 P 12/4/20 Book Show Me How Mortgage note payable 0 189,230 13,000 Common stock, $1 par 21,000 Paid-in capital in excess of par-common stock 330,000 178,000 Retained earnings 171,350 118,720 Total liabilities and stockholders' equity $661,200 $630,780 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, $134,730. b. Depreciation reported on the income statement, $46,140. c. Equipment was purchased at a cost of $90,060 and fully depreciated equipment costing $24,760 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 2. 8,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid $82,100. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minut sign to indicate cash outflows, cash payments, decreases in cash, 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 131.730 Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation . 68F Sunny 12:12 12/41 eBook Show Me How Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Net cash flows from operating activities Cash flows from (used for) Investing activities: Cash paid for equipment Net cash flows from investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Cash paid to retire mortgage note payable Net cash flows from financing activities Net decrease in cash Cash balance, January 1, 2018 Cash balance, December 31, 2048 1" @ 68F Sunny