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, 20Y7 Assets Cash $66,720 $81,510 Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment 102,520 109,880 146,470 136,190 5,970 4,130 298,350 244,010 (77,570) (59,840) Total assets $542,460 $515,880 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $113,920 $107,820 Mortgage note payable 0 154,760 Common stock, $1 par 18,000 11,000 Paid-in capital in excess of par-common stock 278,000 145,000 Retained earnings 132,540 97,300 Total liabilities and stockholders' equity $542,460 $515,880 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, $90,210. b. Depreciation reported on the income statement, $37,980. c. Equipment was purchased at a cost of $74,590 and fully depreciated equipment costing $20,250 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 $20 for cash. f. Cash dividends declared and paid, $54,970. Required: