The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $47,200 $57,900 Accounts receivable (net) 72,520 103,610 78,060 96,740 Merchandise inventory Prepaid expenses 4,220 2,930 Equipment 211,050 173,340 Accumulated depreciation equipment (54,870) (42,510) Total assets $383,730 $366,460 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $80,580 $76,590 Mortgage note payable 0 109,940 Common stock, $1 par 8,000 13,000 178,000 Excess of paid-in capital over par 103,000 Retained earnings 112,150 68,930 Total liabilities and stockholders' equity $383,730 $366,460 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $110,640. b. Depreciation reported on the income statement, $26,750. c. Equipment was purchased at a cost of $52,100, and fully depreciated equipment costing $14,390 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, $67,420. 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. Orange Angel Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities Cash flows from (used for) investing activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: 1 111 Net cash flows from operating activities Cash flows from (used for) investing activities: Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities bobo Cash balance, January 1, 20Y8 Cash balance, December 31, 2048