Statement of cash flows-indirect method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Assets December December 31, 2018 31, 2017 Cash $85,790 $104,920 Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment 131,830 141,440 188,330 175,300 7,670 5,310 383,630 314,090 (99,740) (77,030) Total assets $697,510 $664,030 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $146,480 $138,780 Mortgage note payable 0 199,210 Common stock, $1 par 22,000 14,000 Paid-in capital in excess of par-common stock 307,000 187,000 Retained earnings 222,030 125,040 Total liabilities and stockholders' equity $697,510 $664,030 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, $248,290. b. Depreciation reported on the income statement, $48,780. c. Equipment was purchased at a cost of $95,610 and fully depreciated equipment costing $26,070 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. 8,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $151,300. 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. Line Item Description Yellow Dog Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Amount Amount Previous a. Net income, $248,290. b. Depreciation reported on the income statement, $48,780. c. Equipment was purchased at a cost of $95,610 and fully depreciated equipment costing $26,070 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. 8,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $151,300. 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 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, 2018 Cash balance, December 31, 20Y8 Amount Amount