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, 2047 Assets $47,870 Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment 73,550 105,070 4,280 214,030 (55,650) $389,150 $58,960 79,490 98,520 2,990 176,520 (43,290) $373,190 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $81,720 $78,000 Mortgage note payable 0 111,960 Common stock, $1 par 13,000 8,000 Paid-in capital in excess of par-common stock 180,000 105,000 Retained earnings 114,430 70,230 Total liabilities and stockholders' equity $389,150 $373,190 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2048 are as follows: a. Net income, $113,150. b. Depreciation reported on the income statement, $27,010. c. Equipment was purchased at a cost of $52,160 and fully depreciated equipment costing $14,650 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 $16 for cash. f. Cash dividends declared and paid, $68,950. 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: 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 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: