Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2017, is as follows: Assets Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment Total assets Dec. 31, 2018 Dec. 31, 2017 $74,370 $91,330 114,280 123,130 163,270 152,610 6,650 4,620 332,570 273,420 (86,470) (67,050) $604,670 $578,060 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $126,980 $120,810 Mortgage note payable 173,420 Common stock, $1 par 19,000 12,000 Paid-in capital in excess of par-common stock 282,000 163,000 Retained earnings 176,690 108,830 Total liabilities and stockholders' equity $604,670 $578,060 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, $173,720. b. Depreciation reported on the income statement, $42,110. c. Equipment was purchased at a cost of $81,840 and fully depreciated equipment costing $22,690 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. 7.000 shares of common stark ware leeued at 18 for.cach Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net income, $173,720. b. Depreciation reported on the income statement, $42,110. c. Equipment was purchased at a cost of $81,840 and fully depreciated equipment costing $22,690 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. 7,000 shares of common stock were issued at $18 for cash. f. Cash dividends declared and paid, $105,860. 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 outflows, 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 (used for) 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: 0 0000 Q ] 0 Next Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20YS Cash flows from (used for) 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 balance, January 1, 2018 Cash balance, December 31, 2018 Check My Work Q O