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, 2018 2017 Assets Cash $60,860 Accounts receivable (net) $74,810 100,860 Inventories 93,510 133,590 125,000 Prepaid expenses 3,790 Equipment Accumulated depreciation equipment 5,440 272,130 (70,750) $494,780 a 223,970 (54,930) $473,500 Total assets $103,900 $98,960 142,050 0 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 16,000 10,000 248,000 134,000 126,880 88,490 ...... . DANA 700 can Pre Check My Work 2 more Check My Work uses remaining Retained earnings 126,880 86,490 Total liabilities and stockholders' equity $494,780 $473,500 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, $98,280. b. Depreciation reported on the income statement, $34,410. c. Equipment was purchased at a cost of $66,750, and fully depreciated equipment costing $18,590 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, $59,890. 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 Dysh, or any negative adjustments. Yellow Dog Enterprises Inc Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Previous Next Check My Work 2 more Check My Work uses remaining 5:44P 8/3/20 9 80F Cloudy eBook Show Me How Print Item Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from Investing activities: b0 1801 Dudo Net cash flow used for investing activities Cash flows from financing activities: Net cash flow used for financing activities Cash at the beginning of the year Cash at the end of the year Previous