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 adjustments.

Dec. 31, 20Y8 Dec. 31, 2017 Assets 3 Cash $146,480.00 $179,640.00 4 Accounts receivable (net) 225,010.00 241,920.00 5 Merchandise inventory 321,600.00 298,870.00 6 Prepaid expenses 13,030.00 10,420.00 Equipment 654,380.00 537,900.00 8 Accumulated depreciation (169,970.00) (133,130.00) Total assets $1,190,530.00 $1,135,620.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) $250,960.00 $236,720.00 0.00 335,410.00 12 Mortgage note payable 13 Common stock, $10 par 75,000.00 25,000.00 14 Paid-in capital: Excess of issue price over par-common stock 440,000.00 310,000.00 15 Retained earnings 424,570.00 228,490.00 Total liabilities and stockholders' equity $1,190,530.00 $1,135,620.00 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, $348,560. B. Depreciation reported on the income statement, $82,480. C. Equipment was purchased at a cost of $162,120 and fully depreciated equipment costing $45,640 was discarded, with no salvage realized. D. 10,000 shares of common stock were issued at $18 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, $152,480. Labels and Amount Descriptions Cash used for dividends Cash used for equipment Cash used for merchandise Cash used for purchase of land Cash used to retire mortgage note payable Cash from customers Cash from sale of common stock December 31, 20Y8 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, 20Y8 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable Increase in accounts receivable Increase in cash Depreciation For the Year Ended December 31, 20Y8 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable Increase in accounts receivable Increase in cash 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 Net income Net loss