Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $46,850 $57,480 77,490 71,990 102,850 96,030 4,190 2,910 Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation equipment Total assets 209,510 (54,470) $380,920 172,070 (42,200) $363,780 $79,990 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings $76,030 109,130 8,000 13,000 198,000 89,930 103,000 67,620 $363,780 $380,920 Total liabilities and stockholders' equity . 19 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $79,990 $76,030 Mortgage note payable 109,130 Common stock, $1 par 13,000 8,000 Paid-in capital in excess of par-common stock 198,000 103,000 Retained earnings 89,930 67,620 Total liabilities and stockholders' equity $380,920 $363,780 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2078 are as follows: a. Net income, $57,110. b. Depreciation reported on the income statement, $26,550. C. Equipment was purchased at a cost of $51,720 and fully depreciated equipment casting $14,280 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 $20 for cash, f. Cash dividends dedared and paid, $34,800 Required: progress=false 07 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 C cator=&inprogress=false Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: I ul Net cash flow from operating activities Cash flows from (used for) investing activ es: 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, 2048 Cash balance, December 31, 2048