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The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00
The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00 41,100.00 299,700.00 430.00 537,730.00 170,790.00) 0) 1,190,560.00 $1,135,130.00 3Cash 4Accounts receivable (net) Inventories 6 Prepaid expenses 7 Equipment 8Accumulated depreciation-equipment 9 Total assets 224,940.00 22,390.00 12,670.00 655,160.00 Liabilities and Stockholders' Equity 10 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common stock 15 Retained earnings 16 Total liabilities and stockholders' equity $237,300.00 336,600.00 200,000.00 310,000.00 51,230.00 1,190,560.00 $1,135,130.00 240,640.00 0.00 502,000.00 410,000.00 7,920.00 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, $139,590 B. Depreciation reported on the income statement, $83,790 C. Equipment was purchased at a cost of $162,330 and fully depreciated equipment costing $44,900 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. Cash dividends declared and paid, $152,900 Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Labels and Amount Descriptions Cash paid for dividends Cash paid for equipment Cash paid for merchandise Cash paid for purchase of land Cash paid to retire mortgage note payable Cash received from customers Cash received from sale of common stock Change in cash December 31, 20Y8 Decrease in inventory Decrease in accounts payable Decrease in accounts receivable Decrease in prepaid expenses Depreciation For the Year Ended December 31, 20Y8 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable Increase in accounts receivable Increase in inventory Increase in prepaid expenses Loss on disposal of equipment Loss on sale of investments Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing actvities Net cash flow used for investing activities Net cash flow used for operating activities Net income Net loss
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