Statement of Cash FlowsIndirect 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		$68,210		$83,770
Accounts receivable (net)		104,820		112,930
Inventories		149,750		139,970
Prepaid expenses		6,100		4,240
Equipment		305,020		250,780
Accumulated depreciation-equipment		(79,310)		(61,500)
	Total assets	$554,590		$530,190
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$116,460		$110,810
Mortgage note payable		0		159,060
Common stock, $1 par		18,000		11,000
Paid-in capital in excess of par-common stock		283,000		150,000
Retained earnings		137,130		99,320
	Total liabilities and stockholders equity	$554,590		$530,190

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

1. Net income, $96,790.
2. Depreciation reported on the income statement, $38,620.
3. Equipment was purchased at a cost of $75,050 and fully depreciated equipment costing $20,810 was discarded, with no salvage realized.
4. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
5. 7,000 shares of common stock were issued at $20 for cash.
6. Cash dividends declared and paid, $58,980.

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, 20Y8
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, 20Y8
Cash balance, December 31, 20Y8		$