Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 2018 Dec. 31, 2047 Assets Cash $63,010 $77,140 Accounts receivable (net) 96,830 103,990 Inventories 188,320 128,890 Prepaid expenses 5,640 3,910 281,770 230,930 Equipment Accumulated depreciation-equipment (73,260) (56,630) Total assets $512,310 $488,230 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable $107,590 $102,040 0 146,470 16,000 10,000 Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings 252,000 138,000 136,720 91,720 Total liabilities and stockholders' equity $512,310 $488,230 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2048 are as follows: a. Net income, $115,200. b. Depreciation reported on the income statement, $35,800. c. Equipment was purchased at a cost of $70,010 and fully depreciated equipment costing $19,170 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. 6,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $70,200. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign 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, 2048 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: 9 Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: O Net cash flow used for investing activities Cash flows from (used for) financing activities: 10 Net cash flow used for financing activities Cash balance, January 1, 2048 Cash balance, December 31, 2048