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please help! Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

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Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $50,810 $62,070 Accounts receivable (net) 78,070 83,670 Inventories 111,530 103,710 Prepaid expenses 4,540 3,140 Equipment 227,180 185,800 Accumulated depreciation-equipment (59,070) (45,570) Total assets $413,060 $392,820 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $86,740 $82,100 Mortgage note payable 10 117,850 Common stock, $1 par 13,000 8,000 Paid-in capital in excess of par-common stock 186,000 111,000 Retained earnings 127.320 73,870 Total liabilities and stockholders' equity $413,060 $392,820 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net income, $136,830. b. Depreciation reported on the income statement, $28,920. c. Equipment was purchased at a cost of $56,800 and fully depreciated equipment costing $15,420 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. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $83,380. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows I For the Year Ended December 31, 20Y8 Cash flows from (used for) operating activities: Net income 136,830 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 28,920 Changes in current operating assets and liabilities: Decrease in accounts receivable V -5,600 X Increase in inventories -11,820 X Increase in prepaid expenses Increase in accounts payable Changes in current operating assets and liabilities: Decrease in accounts receivable DV Increase in inventories Increase in prepaid expenses Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash paid for equipment Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Cash paid to retire mortgage note payable Net cash flow used for financing activities Net decrease in cash Cash balance, January 1, 2018 Cash balance, December 31, 2018 Feedback -5.600 X -11,820 X 412,980 X 80,000 3,380 117,850

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