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Statement of cash flows-indirect method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31,
Statement of cash flows-indirect method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 2017 Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Assets Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity $56,670 $69,670 87,080 93,920 124,390 116,390 5,070 3,530 253,400 208,560 (65,880) (51,150) $460,730 $440,920 Accounts payable (merchandise creditors) $96,750 $92,150 Mortgage note payable 0 132,280 Common stock, $1 par 14,000 9,000 Paid-in capital in excess of par-common stock 199,000 124,000 Retained earnings 150,980 83,490 Total liabilities and stockholders' equity $460,730 $440,920 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20YB are as follows: a. Net income, $172,770. b. Depreciation reported on the income statement, $32,040. c. Equipment was purchased at a cost of $62,150 and fully depreciated equipment costing $17,310 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. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $105,280. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) 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 realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $105,280. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Us 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 flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, 20Y8 Cash balance, December 31, 2018 0000 0000 0 0000 0 0
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