Instructions The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec. 31, 2048 Dec. 31, 2017 Assets 3 Cash $147,270.00 $180,220.00 4 Accounts receivable (net) 224,490.00 241,070.00 321,930.00 299,210.00 13,120.00 9,890.00 5 Merchandise inventory 6 Prepaid expenses 7 Equipment 8 Accumulated depreciation 655,170.00 536,180.00 (171,750.00) (131,210.00) Total assets $1,190,230.00 $1,135,360.00 10 $249,380.00 $237,500.00 0.00 336,240.00 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 73,000.00 23,000.00 460,000.00 310,000.00 407,850.00 228,620.00 16 $1,190,230.00 $1,135,360.00 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. $332.260 B. Depreciation reported on the income statement, $84.950 C. Equipment was purchased at a cost of $163,400 and fully depreciated equipment costing $44,410 was discarded, with no salvage realized. D. 10,000 shares of common stock were issued at $20 for cash. E. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty F. Cash dividends declared and paid $153,030. Statement of Cash Flows 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 out flows, cash payments, decreases in cash or any negative adlustments Labels and Amount Descriptions Labels and Amount Descriptions Yellow Dog Enterprises Inc Cash used for dividends Cash used for equipment Statement of Cash Flows Cash used for merchandise (Label) Cash used for purchase of land 1 Cash flows from operating activities: Cash used to retire mortgage note payable Cash from customers 3 Adjustments to reconcile net income to net cash flow from operating activities: Cash from sale of common stock 2 4 5 Changes in current operating assets and liabilities: 6 7 December 31, 2048 Decrease in cash Decrease in merchandise inventory Decrease in accounts payable Decrease in accounts receivable Decrease in prepaid expenses Depreciation For the Year Ended December 31, 2048 Gain on disposal of equipment 10 11 12 Cash flows from (used for investing activities: Gain on sale of investments 13 Increase in accounts payable Increase in accounts receivable 15 Increase in cash 16 Cash flows from (used for) financing activities: 17 19 20 Increase in merchandise inventory Increase in prepaid expenses Loss on disposal of equipment Loss on sale of investments 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 Net cash flow used for investing activities Net cash flow used for operating activities 21 22 Cash at the beginning of the year 23 Cash at the end of the year Net income Net loss