Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, is as follows: Assets Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Dec. 31, 20Y8 Dec. 31, 20Y7 $52,610 $64,680 80,840 87,190 115,490 108,060 4,710 3,270 235,250 193,620 (61,170) (47,480) $427,730 $409,340 Accounts payable (merchandise creditors) $89,820 $85,550 Mortgage note payable 0 122,800 Common stock, $1 par 14,000 9,000 Paid-in capital in excess of par-common stock 210,000 115,000 Retained earnings 113,910 76,990 Total liabilities and stockholders' equity $427,730 $409,340 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: 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, $94,520. b. Depreciation reported on the income statement, $29,760. Equipment was purchased at a cost of $57,700 and fully depreciated equipment costing $16,070 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. e5,000 shares of common stock were issued at $20 for cash. Cash dividends declared and paid, $57,000 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 essets and lobbes Net cash flow from operating activities 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: Net cash flow used for financing activities Cash balance, January 1, 2018 Cash balance, December 31, 2018 0000 000 0 Q O