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Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December 3 1 , 2 0 Y 8 and 2 0

Statement of Cash Flows
The comparative balance sheet of Orange Angel Enterprises Inc. at December 31,20Y8 and 20Y7, is as follows:
Dec. 31,20Y8 Dec. 31,20Y7
Assets
Cash $70,100 $86,260
Accounts receivable (net)107,710116,290
Merchandise inventory 153,880144,140
Prepaid expenses 6,2704,370
Equipment 313,460258,250
Accumulated depreciation-equipment (81,500)(63,330)
Total assets $569,920 $545,980
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors) $119,680 $114,110
Mortgage note payable 0163,790
Common stock, $1 par 18,00011,000
Excess of paid-in capital over par 259,000154,000
Retained earnings 173,240103,080
Total liabilities and stockholders equity $569,920 $545,980
Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:
Net income, $179,610.
Depreciation reported on the income statement, $39,600.
Equipment was purchased at a cost of $76,640, and fully depreciated equipment costing $21,430 was discarded, with no salvage realized.
The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
7,000 shares of common stock were issued at $16 for cash.
Cash dividends declared and paid, $109,450.
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Orange Angel Enterprises Inc.
Statement of Cash Flows
For the Year Ended December 31,20Y8
Cash flows from (used for) operating activities: blank
$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities: blank
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Changes in current operating assets and liabilities: blank
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Net cash flows from operating activities blank $fill in the blank 13
Cash flows from (used for) investing activities: blank
$- Select -
Net cash flows used for investing activities blank fill in the blank 16
Cash flows from (used for) financing activities: blank
$- Select -
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Net cash flows from financing activities blank fill in the blank 23
blank $- Select -
Cash balance, January 1,20Y8 blank fill in the blank 26
Cash balance, December 31,20Y8 blank $fill in the blank 27

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