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, $359,000. Adscicha dab cobahed trom the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: 2. Net income, $392,000. 8. Depreciasion reported on the inoome statement, $218,000. c. Equpment was purchased at a cost of $750,000, and fully depreciated equipment costing $142,000 was discarded, with no satiage realced. d. The morgage note payable was not due for six years, but the terms permilted earlier payment without penalty. e. To,000 shares ol common stock were issued at $15 for cash. t. Cash ovidends declared and paid, $95,000. Required: Arepere a statemect of cash flows, using the indirect method of presenting cesh flows from (used for). operating activities. Be sure to complete the heading of the statement. Refer to the Labeis and Amount Descriptions list provided for the exact wording of he anuner choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash ouclow for each section, if required. \begin{tabular}{|c|c|c|c|} \hline 1 & & Dec. 31,20Y8 & Dec 31, 2017 \\ \hline 2 & Assets & & \\ \hline 3 & Cash & $151,000,00 & $190,000.00 \\ \hline 4 & Accounts receivable (net) & 522,000.00 & 569.000 .00 \\ \hline s. & Merchandise inventory & 968,000.00 & 759,000.00 \\ \hline 6 & Prepaid expenses & 28,000.00 & 19.000 .00 \\ \hliney & Equipment & 2,032,000.00 & 1,424,000.00 \\ \hline 8 & Accumulated depreciation-equipment: & (380,000.00) & (304,000.00) \\ \hline 9 & Total assets & $3,34,000,00 & $2,657,000,00 \\ \hline to & Liabilities and Stockholders' Equity & & \\ \hline 11 & Accounts payable (merchandise creditors) & $190,000.00 & $171,000.00 \\ \hline 12 & Mortgage note payable & 0.00 & 759,000.00 \\ \hline 13 & Common stock, \$10 par & 1,140,000.00 & 380,000.00 \\ \hline & Excess of paid-in capital over par & 570,000.00 & 190,000.00 \\ \hline \end{tabular}
