Instructions The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec. 31, 20Y8 Dec. 31, 2047 1 2 Assets $80,000.00 $100,000.00 3 Cash 275,000.00 300,000.00 4 Accounts receivable (net) 5 Merchandise inventory 510,000.00 15,000.00 6 Prepaid expenses 7 Equipment 8 Accumulated depreciation 400,000.00 10,000.00 750,000.00 (160,000,00) 1,070,000.00 (200,000.00) $1,750,000.00 $1,400,000.00 9 Total assets 10 $100,000.00 $90,000.00 0.00 600,000.00 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 15 Retained earnings Total Liabilities and stockholders' equity 400,000.00 200,000.00 100,000.00 300,000.00 750,000.00 610,000.00 $1,750,000.00 $1,400,000.00 16 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20YB 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. F Cash dividends declared and paid $50,000 Prepare a statement of cash flows, using the indirect method of presenting cash flows from.corating activities. Refer to the Labels and Amount Descriptions ist provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, decreases in cash and a nel cash outflow for each section, if required, and enter in the order isted on the instructions page 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. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required, and enter in the order listed on the instructions page. Yellow Dog Enterprises Inc Statement of Cash Flows (Label) 1 Cash flows from operating activities: 2 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 5 Changes in current operating assets and liabilities: 3 1 9 10 11 Cash flows from (used for) investing activities: Cach flows from used for financing activities Previous 16 Cash flows from (used for) financing activities: 17 18 19 20 21 22 Cash at the beginning of the year 23 Cash at the end of the year
