Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 2018 Dec. 31, 20Y7 Assets Cash $50,970 $62,590 Accounts receivable (net) 78,320 84,380 Inventories 111,870 104,580 Prepaid expenses 4,560 3,170 Equipment 227,900 187,370 Accumulated depreciation-equipment (59,250) (45,950) Total assets $414,370 $396,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $87,020 $82,790 Mortgage note payable 0 118,840 Common stock, $1 par 13,000 8,000 Paid-in capital in excess of par-common stock 207,000 112,000 Retained earnings 107,350 74,510 Total liabilities and stockholders' equity $414,370 $396,140 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net Income, $84,070. b. Depreciation reported on the income statement, $28,850. c. Equipment was purchased at a cost of $56,080 and fully depreciated equipment costing $15,550 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 declared and paid, $51,230. 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 adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20YB 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: 000 0 0000 00 cash, or any negative Net cash flow used for financing activities Cash balance, January 1, 20Y8 Cash balance, December 31, 20Y8 Check My Work Assignment Score: 0.0% Email Instructor Save and Exit Previous Submit Assignment for Grading