• The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: (Picture/Numbers Below):
• Additional info obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows:

1. Net Income, $94,310
2. Depreciation reported on the income statement, $29,760
3. Equipment was purchased at a cost of $57,470 and fully depreciated equipment costing $16,140 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. 5,000 shares of common stock were issued at $20 for cash.
6. Cash dividends declared and paid, $57,470

• 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: (Picture/Numbers Below):

Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2017, is as follows: Dec. 31, 20Y8 Dec 31, 2017 Assets Cash $52,740 $64,970 Accounts receivable (net) 81,040 87,590 Inventories 115,770 108,550 Prepaid expenses 4,720 3,290 Equipment 235,830 194,500 Accumulated depreciation equipment (61,320) (47,700) Total assets $428,780 $411,200 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $90,040 $85,940 Mortgage note payable 0 123,360 Common stock, $1 par 14,000 9,000 116,000 Paid-in capital in excess of par-common stock Retained earnings 211,000 113,740 76,900 Total liabilities and stockholders' equity $428,780 $411,200 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, $94,310. b. Depreciation reported on the income statement, $29,760. C. Equipment was purchased at a cost of $57,470 and fully depreciated equipment costing $16,140 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 $20 for cash. f. Cash dividends declared and paid, $57,470. 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, 2018 Cash flows from (used for) operating activities: Net Income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 61,320 X Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash paid for equipment Net cash flow 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 flow used for financing activities Net decrease in cash Cash balance, January 1, 2048 Cash balance, December 31, 2048