Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec 31, 20Y8 Dec 31, 2017 2 Assets 3 Cash $80,000.00 $100,000.00 4 Accounts receivable (net) 275,000.00 300,000.00 5 Inventories 510,000.00 400,000.00 6 Prepaid expenses Equipment 15,000.00 10,000.00 1,070,000.00 750,000.00 8 Accumulated depreciation equipment (200,000.00) $1,750,000.00 9 Total assets (160,000.00) $1,400,000.00 10 $100,000.00 $90,000.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common stock 0.00 400,000.00 600,000.00 200,000.00 300,000.00 100,000.00 Check My Work 5 more Check My Work uses remaining. Book Show Me How Calculator Print Item Instructions 15 Retained eamings 750,000.00 610,000.00 16 Total liabilities and stockholders' equity $1,750,000.00 $1,400,000.00 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, $190,000. b. Depreciation reported on the income statement, $115,000 c. Equipment was purchased at a cost of $395,000 and fully depreciated equipment costing $75,000 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. 40,000 shares of common stock were issued at $15 for cash. t. Cash dividends declared and paid $50,000 Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Enter amounts that represent cash outflows as negative numbers using a minus sign Labels and Amount Descriptions Labels and Amount Descriptions Cash paid for dividends Cash paid for equipment Cash paid for merchandise Cash paid for purchase of land Cash paid to retire mortgage note payable Cash received from customers Cash received from sale of common stock Change in cash December 31, 20Y8 Decrease in inventory Decrease in accounts payable Ad fol Decrease in accounts receivable Decrease in prepaid expenses Depreciation For the Year Ended December 31, 2048 Gain on disposal of equipment Gain on sale of investments hipn Increase in accounts payable Check My Work 5 more Check My Work uses remaining. Instructions Labels and Amount Descriptions Decease li piepdiu expenses (X poo. 1 Depreciation For the Year Ended December 31, 2048 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable as LE Increase in accounts receivable Increase in inventory Increase in prepaid expenses Loss on disposal of equipment Loss on sale of investments Ad Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing activities je accou fol Net cash flow used for investing activities Net cash flow used for operating activities Net income uipment cc Net loss
