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		$59,160		$72,500
Accounts receivable (net)		90,910		97,740
Merchandise inventory		129,870		121,150
Prepaid expenses		5,290		3,670
Equipment		264,560		217,050
Accumulated depreciation-equipment		(68,780)		(53,230)
	Total assets	$481,010		$458,880
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$101,010		$95,910
Mortgage note payable		0		137,660
Common stock, $1 par		16,000		10,000
Excess of paid-in capital over par		231,000		129,000
Retained earnings		133,000		86,310
	Total liabilities and stockholders equity	$481,010		$458,880

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

1. Net income, $119,530.
2. Depreciation reported on the income statement, $33,570.
3. Equipment was purchased at a cost of $65,530, and fully depreciated equipment costing $18,020 was discarded, with no salvage realized.
4. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
5. 6,000 shares of common stock were issued at $18 for cash.
6. Cash dividends declared and paid, $72,840.

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:
	$
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
Net cash flows from operating activities		$
Cash flows from (used for) investing activities:
	$
Net cash flows used for investing activities
Cash flows from (used for) financing activities:
	$
Net cash flows from financing activities
		$
Cash balance, January 1, 20Y8
Cash balance, December 31, 20Y8		$