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

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, $359,000.

b. Depreciation reported on the income statement, $218,000.

c. Equipment was purchased at a cost of $750,000, and fully depreciated equipment costing $142,000 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. 76,000 shares of common stock were issued at $15 for cash.

f. Cash dividends declared and paid, $95,000.

Instructions
Prepare a statement of cash flows, using the indirect method.

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Dec. 31, 20Y8 Dec. 31, 20Y7 Assets $ 151,000 $ 190,000 Cash... 522,000 569,000 w... Accounts receivable (net).. Merchandise inventory... Prepaid expenses. Equipment.. Accumulated depreciation-equipment. Total assets... 968.000 759,000 28,000 19,000 2,032.000 1,424,000 (380,000) $3.321,000 (304,000) $2.657,000 Dec. 31, 20Y8 Dec. 31, 20Y7 Liabilities and Stockholders' Equity S 190,000 5 171,000 Accounts payable (merchandise creditors... Mortgage note payable.... Common stock. $10 par.... Paid-in capital in excess of par. Retained carnings... Total liabilities and stockholders'equity. 759,000 1,140,000 570,000 380,000 190.000 1,157.000 $2.657,000 1.421.000 $3.321,000