prepare a statement of cash flows, using the i direct 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.
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: 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, $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 realzed 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 Adaional diata obtaned trom the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows a. Net incorne, $100,000 b. Depiccialon reported on the income statement, \$115,000 c. Equipnent was purchased at a cost of $395,000 and fuly depreciated equprnent costing $75000 was discarded, whth ne salvage realized d The mortgage nose piyable was not doe for wx years, but the terms permitted carlier payment withoul penalty. 4. 40,000 stues of common stock were issued at $15 for cash f. Cash civedends declared and paid, $50,000 Labels and Amount Descriptions Cash paid for dividends Cash paid for equipment Cash paid for merchandise Cash paid for purchase of land Cash paid to retire mortgage note payable Cash received from customers Cash received from sale of common stock Change in cash December 31, 20Y8 Decrease in inventory Decrease in accounts payable Decrease in accounts receivable Decrease in prepaid expenses Depreciation For the Year Ended December 31, 20 Y8 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable Increase in accounts receivable Increase in 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 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 Net income Net loss Prepare a statement of cash fiows, using the indirect method of presenting cash flows from onerating 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 Enter amounts that represent cash outfows as negative numbers using a mirius sign. Statement of Cash Flows Shaded cells have fee 11 12 Cash flows from investing activities: 13 Cash paid for equipment 14 Cash flows from financing activities: 17 18 19 20 Statement of Cash Flows Shaded cells have fee Cash flows from financing activities: 17 18 19 20 21 Cash at the beginning of the year 23. Cash at the end of the year
