Statement of Cash FlowsIndirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $69,050 $84,620 Accounts receivable (net) 106,100 114,080 Inventories 151,580 141,400 Prepaid expenses 6,180 4,280 Equipment 308,770 253,330 Accumulated depreciation-equipment (80,280) (62,130) Total assets $561,400 $535,580 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $117,890 $111,940 Mortgage note payable 0 160,670 Common stock, $1 par 18,000 11,000 Paid-in capital: Excess of issue price over par-common stock 256,000 151,000 Retained earnings 169,510 100,970 Total liabilities and stockholders equity $561,400 $535,580 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Net income, $175,460. Depreciation reported on the income statement, $39,180. Equipment was purchased at a cost of $76,470, and fully depreciated equipment costing $21,030 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, $106,920. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from operating activities: $ Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities $ Cash flows from investing activities: $ Net cash flow used for investing activities Cash flows from financing activities: $ Net cash flow used for financing activities $ Cash at the beginning of the year Cash at the end of the year