Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 2078 and 2077, is as follows: Dec. 31, Dec. 31, 2018 2017 Assets Cash $50,470 $61,720 Accounts receivable (net) 77,560 83,210 Merchandise Inventory 110,800 103,130 Prepaid expenses 4,510 3,130 Equipment 225,690 184,780 Accumulated depreciation equipment (58,680) (45,320) Total assets $410,350 $390,650 $86,170 $81,650 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage riote payable Common stock, 51 par Excess of pald-in capital over par Retained earnings Total liabilities and stockholders' equity 117,200 8,000 13,000 185,000 110,000 73,800 126,180 $410,350 $390,650 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, $134,090. b. Depreciation reported on the income statement, $28,700 Equipment was purchased at a cost of $56,250, and dy depreciated equipment costing $15,340 was discarded, with no savage reived d. The mortgage note payable was not due for skyears, but the terme permitted earlier payment without penalty 5,000 shares of common stock were issued at $16 for cash Cash dividends declared and paid $81,710 Required Prepare a statement of cash flows, using the Indirect method of presenting can nows from used for operating activities. Use the minun sign to indicate cash outom, coth payments, decrease in cash, or any negative adjustments. Orange Angel Enterprises Inc Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from (used for operating activities Adjustments to reconcile net income to net cash flow from used for operating activities Changes in current operating assets and abilities OD 111 0 0 Netcash flows from operating activities Cash nows from used for investing activities Net cash flows used for investing activities Cash flows from used for financing activities For the Year Ended December 31, 2048 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 Nows from operating activities Cash flows from (used for investing activities: I 111 0 QUE Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 2018 Cash balance, December 31, 2048