Statement of Cash Flows$-$Indirect Method a$.$ Net income, $$153,600.$

b$.$ Depreciation reported on the income statement, $$47,680.$

c$.$ Equipment was purchased at a cost of $$93,640,$ and fully depreciated equipment costing $$25,420$ 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 $$20$ for cash.

f$.$ Cash dividends declared and paid, $$93,600.$

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 out

flows, cash payments, decreases in cash, or any negative adjustments.

Yellow Dog Enterprises Inc.

Statement of Cash Flows

For the Year Ended December $31,20Y8$

Cash flows from operating activities:

Adjustments to reconcile net income to net cash flow from operating activities:

Changes in current operating assets and liabilities: Net cash flow used for financing activities

Cash at the beginning of the year

Cash at the end of the year

The comparative balance sheet of Yellow Dog Enterprises Inc. at December $31,20Y8$ and $20$Y$7,$ is as follows:

Liabilities and Stockholders' Equity