Statement of cash flows-indirect m The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, is as follows: Assets December 31, 2018 December 31, 2017 Cash $62,760 $76,910 Accounts receivable (net) Inventories Prepaid expenses 96,440 103,690 137,780 128,520 5,610 3,890 Equipment 280,640 230,250 Accumulated depreciation-equipment (72,970) (56,470) Total assets $510,260 $486,790 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $107,150 $101,740 Mortgage note payable 0 146,040 Common stock, $1 par 16,000 10,000 Paid-in capital in excess of par-common stock 251,000 137,000 Retained earnings 136,110 92,010 Total liabilities and stockholders' equity $510,260 $486,790 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net income, $112,900. b. Depreciation reported on the income statement, $35,610. c. Equipment was purchased at a cost of $69,500 and fully depreciated equipment costing $19,110 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. 6,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $68,800. 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. 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 adjustme Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Amount Amount Line Item Description Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Changes in current operating assets and liabilities: Decrease in accounts receivable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid to retire mortgage note Net cash flows used for financing activities Cash flows from (used for) financing activities: Cash received from retained earnings Cash paid for common stock Cash paid to retire mortgage note payable Net cash flows from financing activities Net decrease in cash Cash balance, January 1, 20Y8 Cash balance, December 31, 20Y8 112,900 535,610 X Q | Q 000 0000