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

Dec. 31, 20Y8Dec. 31, 20Y7Assets Cash$63,260 $77,200 Accounts receivable (net)97,210 104,080 Inventories138,870 128,990 Prepaid expenses5,660 3,910 Equipment282,890 231,120 Accumulated depreciation-equipment(73,550) (56,680) Total assets$514,340 $488,620 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors)$108,010 $102,120 Mortgage note payable0 146,590 Common stock, $1 par16,000 10,000 Paid-in capital in excess of par-common stock228,000 138,000 Retained earnings162,330 91,910 Total liabilities and stockholders equity$514,340 $488,620

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

1. Net income, $180,280.
2. Depreciation reported on the income statement, $36,050.
3. Equipment was purchased at a cost of $70,950 and fully depreciated equipment costing $19,180 was discarded, with no salvage realized.
4. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty.
5. 6,000 shares of common stock were issued at $16 for cash.
6. Cash dividends declared and paid, $109,860.

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.