Statement of cash flowsindirect methodThe comparative balance sheet of Yellow Dog Enterprises Inc. at December $31,20$Y$8$ and $20$Y$7,$ is as follows:Line Item DescriptionDecember $31,20$Y$8$December $31,20$Y$7$Assets Cash$$64,460$$$79,330$Accounts receivable $($net$)99,050106,950$Inventories$141,510132,540$Prepaid expenses$5,7704,020$Equipment$288,260237,490$Accumulated depreciation$-$equipment$(74,950)(58,240)$Total assets$$524,100$$$502,090$Liabilities and Stockholders' Equity Accounts payable $($merchandise creditors$)$$$110,060$$$104,940$Mortgage note payable$0150,630$Common stock, $$1$ par$18,00011,000$Paid$-$in capital in excess of par$-$common stock$261,000142,000$Retained earnings$135,04093,520$Total liabilities and stockholders equity$$524,100$$$502,090$Additional data obtained from the income statement and from an examination of the accounts in the ledger for $20$Y$8$ are as follows:Net income, $$106,290.$Depreciation reported on the income statement, $$36,420.$Equipment was purchased at a cost of $$70,480$ and fully depreciated equipment costing $$19,710$ was discarded, with no salvage realized.The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty$\mathrm{.}7,000$ shares of common stock were issued at $$18$ for cash.Cash dividends declared and paid, $$64,770.$Required:Prepare a statement of cash flows, using the indirect method of presenting cash flows from $($used for$)$ operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.Yellow Dog Enterprises Inc.Statement of Cash FlowsFor the Year Ended December $31,20$Y$8$Line Item DescriptionAmountAmountCash flows from $($used for$)$ operating activities:blank$$-$ Select $-$Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:$-$ Select $-$Changes in current operating assets and liabilities:$-$ Select $--$ Select $--$ Select $--$ Select $-$$$-$ Select $-$Cash flows from $($used for$)$ investing activities:$$-$ Select $--$ Select $-$Cash flows from $($used for$)$ financing activities:$$-$ Select $--$ Select $--$ Select $--$ Select $-$$$-$ Select $-$Cash balance, January $1,20$Y$8$fill in the blank $29$Cash balance, December $31,20$Y$8$$fill in the blank $30$