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please help with below, thank you in advance. Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31,
please help with below, thank you in advance.
Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec. 31, Dec. 31, 2048 2047 Assets Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation equipment $58,370 89,690 128,130 5,220 261,000 (67,860) $474,550 $71,680 96,630 119,770 3,630 214,590 (52,630) $453,670 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings 599,660 0 16,000 242,000 $94,820 136,100 10,000 128,000 116,890 84,750 Total liabilities and stockholders' equity $474,550 $453,670 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, $82,280. b. Depreciation reported on the income statement, $33,040. C. Equipment was purchased at a cost of $64,220, and fully deprecated equipment costing $17,810 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. 6,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $50,140. 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 out flows, cash payments, decreases in cash, or any negative adjustments. 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 out flows, cash payments, decreases in cash, or any negative adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 2048 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from Investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow used for financing activities Cash at the beginning of the year Cash at the end of the year
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