Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 20Y8 Dec. 31, 2017 Assets Cash $61,650 $75,390 Accounts receivable (net) 94,730 135,330 Inventories 5,510 Prepaid expenses Equipment Accumulated depreciation-equipment 101,640 125,960 3,820 225,700 (55,350) 275,670 (71,670) $501,220 Total assets $477,160 $105,260 $99,730 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings 16,000 237,000 142,960 143,150 10,000 135,000 89,280 10 477 1 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, $137,420. b. Depreciation reported on the income statement, $35,050. c. Equipment was purchased at a cost of $68,700, and fully depreciated equipment costing $18,730 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty e. 6,000 shares of common stock were issued at $18 for cash. F. Cash dividends declared and paid, $83,740. Required: Prepare a statement of cash flows, using the indirect method of presenting cash rows from operating activities. Use the minus sign to indicate cash out no cash payments, decreases in cash, or any negative adjustments. Yellow Dog Enterprises Inc Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities