Prepare a statement of cash flows easily indirect method representing cash flow from operating activities.

yellow dog enterprises inc

Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2017, is as follows: Dec. 31, 2018 Dec. 31, 2017 Assets Cash $82,010 $100,180 126,010 135,050 Accounts receivable (net) Inventories 180,020 Prepaid expenses 7,330 167,400 5,070 299,910 (73,550) 366,700 Equipment Accumulated depreciation equipment (95,340) Total assets $666,730 $634,060 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $140,010 $132,520 Mortgage note payable 0 190,220 Common stock, $1 par 21,000 13,000 Paid-in capital in excess of par-common stock 315,000 179,000 Retained earnings 190,720 119,320 Total liabilities and stockholders' equity $666,730 $634,060 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, $182,780. b. Depreciation reported on the income statement, $46,680. Equipment was purchased at a cost of $91,600 and fully depreciated equipment costing $24,890 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 $18 for cash. 1. Cash dividends decared and paid, $111,380. 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, 2018 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Deprecation Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories DODO Decrease in prepaid expenses Net cash flow from operating activities O Adjustments to reconcile net income to net cash flow from operating activities: Deprecation Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Decrease in prepaid expenses Net cash flow from operating activities Cash flows from (used for) investing activities: I will 0 0 000 Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow used for financing activities Cash balance, January 1, 2018 Cash balance, December 31, 2018