follows: December December 31,20re31,20Vr Assets Each Accounts receivable (net) Inventornes Prepald expentes Equipment Accumulated depreciation-eguipenent Total assets Liabilities and Stockholders' Iquity Accounts payable (merchandise credsors) Mortgage note poyable Common stack; 51 par Paid-in capital in excess of par-common stock Retained earnings Total liabitites and stockholders' equity 588,4005103,450 135,1540146,200 194,060181,210 7.9105.490 395,300324,660 (102,760)(79,620) 5718,730$6,86,390 for 20r are as follows: a. Net income, $263,160. b. Depreciation reported on the income statement, $50,110. c. Equipment was purchased at a cost of 597,590 and fully degrectiked reupenent costing $26,950 was descarded, with no saivege tealized. 4. The mortgoge note payable wbs act due for sox vears, but the ferms permitted eaclier poyment without penaliz. e. 8,000 shares of common stock were bsoed at $16 for cash f. Cash dividends declored and paid, $160,350. Requred: Prepare a statement of cash flows, using the indirect inethod of presenting cash flows frem (used for) operating octivities. Use the minus sign to indicate cach euthows, cash poyinents, decreases in cash, or afly negative adjustments: Yellow Dog Enterprises Inc. Statement of Cash Flows For the Vear Ended December 31, 20v8 Line Item Description Gach flows ftom (used for) operating octivities: Adiustiments to reconcie net income to he cash fows trom (ubed for) operating octivities: Chaoger in current operating affits and fatibties: Paid-in capital in excess of par-commo Retained earnings Total liablities and stockholders' equity Additional data obtoined from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $263,140. b. Depreciation reported on the income statement, $50,110. c. Equipment was purchased at a cost of $97,590 and fully depreciated equipment costing $26,950 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 $16 for cash. f. Cash dividends declared and paid, 5160,350 . Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operatiog activitios. Use the minus sign to indicate cash outlows, cash payments, decreases in cash, or any negative adjustments. Yellow Doo Enterprises Inc. Statement of Cash Flows For the Vear Ended December 31, 20V8 Line Item Description Amount Amoent Cash flows from (used for) operating activities: Adfustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) imesting activitios: Cash flows from (used for) financing octivities: Cash thalance, lanuary 1, zora Cash balince, December 31,208