The comparative balance sheet of Yellow Dog Enterprises Inc. at December $31,20$ Y$8$ and $20$Y$7,$ is 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, $$103,170.$

b$.$ Depreciation reported on the income statement, $$34,760.$

c$.$ Equipment was purchased at a cost of $$68,120$ and fully depreciated equipment costing $$18,570$ 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$.6,000$ shares of common stock were issued at $$20$ for cash.

f$.$ Cash dividends declared and paid, $$62,870.$

Required:

cash, or any negative adjustments.

Yellow Dog Enterprises Inc.

Statement of Cash Flows

For the Year Ended December $31,20Y8$

Line Item Description

Amount

Amount

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:

Decrease in accounts receivable

Increase in inventories $$

Increase in prepaid expenses $$

Increase in accounts payable

Net cash flows used for operating activities

Cash flows from $($used for$)$ investing activities:

Cash paid for equipment

Net cash flows used for investing activities

Cash flows from $($used for$)$ financing activities:

Cash received from sale of common stock $$

Cash paid for dividends

Cash paid to retire mortgage note payable

Net cash flows used for financing activities

Net decrease in cash

Cash balance, January $1,20Y8$

Cash balance, December $31,20Y8$