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

Line Item Description	December 31, 20Y8	December 31, 20Y7
Assets
Cash	$64,500	$79,120
Accounts receivable (net)	99,100	106,660
Inventories	141,570	132,200
Prepaid expenses	5,770	4,010
Equipment	288,390	236,850
Accumulated depreciation-equipment	(74,980)	(58,090)
Total assets	$524,350	$500,750
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$110,110	$104,660
Mortgage note payable	0	150,230
Common stock, $1 par	18,000	11,000
Paid-in capital in excess of par-common stock	274,000	141,000
Retained earnings	122,240	93,860
Total liabilities and stockholders equity	$524,350	$500,750

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, $72,650.

b. Depreciation reported on the income statement, $36,550.

c. Equipment was purchased at a cost of $71,200 and fully depreciated equipment costing $19,660 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. 7,000 shares of common stock were issued at $20 for cash.

f. Cash dividends declared and paid, $44,270.

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.

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: Cash flows from (used for) investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, 20Y8 Cash balance, December 31, 20Y8