Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2047, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $81,520 Accounts receivable (net) Inventories $99,800 134,540 125,270 178,950 Prepaid expenses 166,750 7,290 5,050 Equipment 364,530 298,760 Accumulated depreciation-equipment (73,270) Total assets (94,780) $662,780 $631,630 $139,180 $132,010 0 189,490 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid in capital: Excess of issue price over par-common stock Retained earnings Total liabilities and stockholders' equity 21,000 13,000 330,000 178,000 172,600 119,130 $662,780 $631,630 Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator &inprogress=false a HOGY Total liabilities and stockholders' equity $662,780 $631,630 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, $136,880 b. Depreciation reported on the income statement, $46,310. C. Equipment was purchased at a cost of $90,570, and fully depreciated equipment costing $24,800 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. 8,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $83,410. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus slon to indicate cash out flows, 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 operating activities: