Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Dec 31, 20Y8 Dec 31, 2017 Assets Cash $90,790 139,510 $111,380 150,150 186,110 199,320 8,120 5,640 Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation equipment Total assets 405,990 (105,560) 333,440 (81,770) $704,950 $738,170 $155,020 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid in capital in excess of par.common stock Retained earnings Total liabilities and stockholders' equity $147,330 211,490 15,000 199,000 24,000 334,000 225,150 132,130 $704,950 $738,170 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $155,020 $147,330 Mortgage note payable 211,490 Common stock, $1 par 24,000 15,000 Paid-in capital in excess of par common stock 334,000 199,000 Retained earnings 225,150 132,130 Total liabilities and stockholders' equity $738,170 $704,950 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, $238,130. b. Depreciation reported on the income statement, $51,470. c. Equipment was purchased at a cost of $100,230 and fully depreciated equipment costing $27,680 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. 9,000 shares of common stock were issued at $16 for cash. 1. Cash dividends declared and paid, 5145,110. 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 in cash, or any negative adjustments. Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from (used for) operating activities: Nat in For the Year Ended December 31, 2048 Cash flows from (used for) operating activities: Net Income Adjustments to reconcle net income to net cash flow from operating activities: Depreciation Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash paid for equipment Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock 0 0 0000 0000 Cash paid for dividends Cash paid to retire mortgage note payable Net cash flow used for financing activities Deprem Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) Investing activities: Cash paid for equipment Net cash flow used for investing activities Cash flows from used for) financing activities: Cash received from sale of common stock DOO D 1100 DOOD Cash paid for dividends Cash paid to retire mortgage note payable Net cash flow used for financing activities Net decrease in cash Cash balance, January 1, 2018 Cash balance, December 31, 2018