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, 2048 Dec. 31, 2047 Assets Cash $61,120 93,910 $75,050 101,180 Accounts receivable (net) Merchandise inventory 134,140 125,400 Prepaid expenses Equipment 5,470 273,280 (71,050) 3,800 224,680 (55,100) Accumulated depreciation-equipment Total assets $496,870 $475,010 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $104,340 $99,280 Mortgage note payable 142,500 Common stock, $1 par 10,000 Paid-in capital: Excess of issue price over par-common stock Retained earnings 16,000 248,000 128,530 134,000 89,230 Total liabilities and stockholders' equity $496,870 $475,010 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, $100,610. b. Depreciation reported on the income statement, $34,600. c. Equipment was purchased at a cost of $67,250, and fully depreciated equipment costing $18,650 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 $20 for cash. f. Cash dividends declared and paid, $61,310. Required: Prepare a statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, 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 (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow used for financing activities Cash at the beginning of the year Cash at the end of the year