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. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required. The comparative balance sheet of Orange Angel Enterprises Inc. at December 31,20Y8 and 20Y7, is as follows: Orange Angel Enterprises Inc. Statement of Cash Flows 1 Cash flows from (used for) operating activities: (Label) Adjustments to reconcile net income to net cash flows from (used for) operating activities: 4 5 Changes in current operating assets and liabilities: 11 Cash flows from (used for) investing activities: 14 Cash flows from (used for) financing activities: 15 16 17 18 19 20 Cash balance, January 1,20Y8 21 Cash balance, December 31, 20Y8 Labels and Amount Descriptions Labels December 31, 20Y8 For the Year Ended December 31, 20Y8 Amount Descriptions Cash paid for equipment Cash received from issuing common stock Cash dividends Cash paid to retire mortgage note payable Decrease in merchandise inventory Decrease in accounts payable Decrease in accounts receivable Decrease in prepaid expenses Depreciation Increase in accounts payable Increase in accounts receivable Increase in merchandise inventory Increase in prepaid expenses Net increase in cash Net decrease in cash Net cash flows from financing activities Net cash flows from investing activities Net cash flows from operating activities Net cash flows used for financing activities Net cash flows used for investing activities Net cash flows used for operating activities Net income Net loss