Statement of Cash FlowsIndirect Method

The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:

		Dec. 31, 20Y8		Dec. 31, 20Y7
Assets
Cash		$52,120		$64,070
Accounts receivable (net)		80,090		86,380
Merchandise inventory		114,400		107,060
Prepaid expenses		4,660		3,240
Equipment		233,060		191,810
Accumulated depreciation-equipment		(60,590)		(47,040)
	Total assets	$423,740		$405,520
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$88,990		$84,750
Mortgage note payable		0		121,660
Common stock, $1 par		14,000		9,000
Paid-in capital: Excess of issue price over par-common stock		199,000		114,000
Retained earnings		121,750		76,110
	Total liabilities and stockholders equity	$423,740		$405,520

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

Net income, $116,840.

Depreciation reported on the income statement, $29,470.

Equipment was purchased at a cost of $57,170, and fully depreciated equipment costing $15,920 was discarded, with no salvage realized.

The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.

5,000 shares of common stock were issued at $18 for cash.

Cash dividends declared and paid, $71,200.

Required:

Prepare a statement of cash flows, using the indirect method. 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:
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:
	$
Net cash flow used for financing activities
		$
Cash at the beginning of the year
Cash at the end of the year		$