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, Dec. 31, 20Y8 20Y7 Assets Cash $81,170 $99,890 Accounts receivable (net) 124,730 134,660 Inventories 178,180 166,910 Prepaid expenses 7,260 5,060 362,970 299,040 Equipment Accumulated depreciation equipment (94,370) (73,340) Total assets $659,940 $632,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable $138,590 $132,130 0 189,670 Common stock, $1 par 21,000 13,000 Paid-in capital: Excess of issue price over par-common stock 314,000 178,000 Retained earnings 186,350 119,420 Total liabilities and stockholders' equity $659,940 $632,220 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $171,340. b. Depreciation reported on the income statement, $45,850. C. Equipment was purchased at a cost of $88,750, and fully depreciated equipment costing $24,820 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 $18 for cash. f. Cash dividends declared and paid, $104,410. 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 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, 20Y8 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 1000 $ Net cash flow from operating activities Cash flows from investing activities: VI Net cash flow used for investing activities Cash flows from financing activities: Net cash flow used for financing activities . 10000 Cash at the beginning of the year Cash at the end of the year