The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 2017, is as follows: Dec. 31, 2048 Dec. 31, 2047 Assets Cash Accounts receivable (net) Merchandise inventory $57,260 87,980 125,690 5,120 256,040 (66,570) $70,320 94,790 117,490 3,560 210,500 (51,620) Prepaid expenses Equipment Accumulated depreciation equipment Total assets $465,520 $445,040 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $97,760 $93,010 Mortgage note payable 133,510 Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock 14,000 201,000 152,760 9,000 126,000 83,520 Retained earnings Total liabilities and stockholders' equity $465,520 $445,040 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, $177,250. b. Depreciation reported on the income statement, $32,420. C. Equipment was purchased at a cost of $63,010, and fully depreciated equipment costing $17,470 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 $16 for cash. f. Cash dividends declared and paid, $108,010. Prepare a statement of cash flows, using the indirect method. 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, 2048 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: ni Du 0 0 Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow used for financing activities Cash at the beginning of the year Cash at the end of the year