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 Cash $62,090 $76,330 Accounts receivable (net) 95,410 102,900 Inventories 136,310 127,550 Prepaid expenses 5,550 3,860 Equipment 277,650 228,510 Accumulated depreciation-equipment (72,190) (56,040) Total assets $504,820 $483,110 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $106,010 $100,970 Mortgage note payable 0 144,930 Common stock, $1 par 16,000 10,000 Paid-in capital in excess of par-common stock 250,000 136,000 Retained earnings 132,810 91,210 Total liabilities and stockholders equity $504,820 $483,110 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Net income, $106,500. Depreciation reported on the income statement, $35,120. Equipment was purchased at a cost of $68,110 and fully depreciated equipment costing $18,970 was discarded, with no salvage realized. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. 6,000 shares of common stock were issued at $20 for cash. Cash dividends declared and paid, $64,900. 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, 20Y8