Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2097, is as follows: Dec. 31, 20Y8 Dec. 31, 2017 Assets Cash $47,200 $57,780 Accounts receivable (net) 72,520 77,890 Inventories 96,540 103,600 4,220 2,930 Prepaid expenses Equipment Accumulated depreciation equipment Total assets 211,050 (54,870) $383,720 172,970 (42,420) $365,690 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $80,580 $76,430 Mortgage note payable 0 109,710 Common stock, $1 par 13,000 8,000 Pald.in capitali excess of issue price over par common stock 178,000 103,000 Retained earnings 112,140 68,550 Total liabilities and stockholders' equity $383,720 $365,690 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, $111,590 b. Depreciation reported on the income statement, $26,810 couloment was purchased at a cost of $52.440, and fully depreciated equipment costing 514,360 was discarded, with no salvage realized DOO Show Me How Printem LLOCISSE COSE DISCOSOWASSIONISTICS 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 $16 for cash f. Cash dividends declared and paid, 568,000 Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flow 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, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash now from operating activities: Changes in current operating assets and abilities: 0 l bli Net cash flow from operating activities Cash flows from investing activities Net cash flow used for investing activities Cash flows from financing activities: eBook Show Me How E Printem Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities: 0 1 1 0 QUI Net cash flow from operating activities Cash flows from investing activities: 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 Check My Work 2 more Check My Work uses remaining, All work saved