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The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows Dec. 31,20Y8 Dec. 31,20Y7 Assets 146190.00 $179,070.00 41,100.00 299,700.00 430.00 537,730.00 170,790.00) 0) 1,190,560.00 $1,135,130.00 3Cash 4Accounts receivable (net) Inventories 6 Prepaid expenses 7 Equipment 8Accumulated depreciation-equipment 9 Total assets 224,940.00 22,390.00 12,670.00 655,160.00 Liabilities and Stockholders Equity 10 11 Accounts payable (merchandise creditors) 12 Mortgage note payable 13 Common stock, $10 par 14 Paid-in capital: Excess of issue price over par-common stock 15 Retained earnings 16 Total liabilities and stockholders equity $237,300.00 336,600.00 200,000.00 310,000.00 51,230.00 1,190,560.00 $1,135,130.00 240,640.00 0.00 502,000.00 410,000.00 7,920.00

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, $139,590 B. Depreciation reported on the income statement, $83,790 C. Equipment was purchased at a cost of $162,330 and fully depreciated equipment costing $44,900 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. Cash dividends declared and paid, $152,900 Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Labels and Amount Descriptions Cash paid for dividends Cash paid for equipment Cash paid for merchandise Cash paid for purchase of land Cash paid to retire mortgage note payable Cash received from customers Cash received from sale of common stock Change in cash December 31, 20Y8 Decrease in inventory Decrease in accounts payable Decrease in accounts receivable Decrease in prepaid expenses Depreciation For the Year Ended December 31, 20Y8 Gain on disposal of equipment Gain on sale of investments Increase in accounts payable Increase in accounts receivable

Increase in inventory Increase in prepaid expenses Loss on disposal of equipment Loss on sale of investments Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing actvities Net cash flow used for investing activities Net cash flow used for operating activities Net income Net loss

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Solution: Cash Flow Statementfor the yearended December 31,20Y8by IndirectMethod Yellow Dog Enterprises Inc. Statement of cash flow Indirect Method Forthe Year Ended 31 December, 20Y8 Cash flowfrom Operating Activities 139,590 Net Income Adj ustments to Net Income to Net Cash Flow from Operating Activities Depreciation Decrease in Accounts Receivable Increase in Inventory Increase in Prepaid Expenses Increase in Accounts Payable Net Cash Flow from ope $83,790 16,1 22,6 3,2 rating Activities 216,950 Cash Flow from Investing Activities Cash Paid for Equipment Net Cash Flow Used forInvesting Activities 162,330 Cash Flow from Financing Activities Cash Received from sale of Common Stock Cash Paid to retire Mortgage Note Payable Cash Paid for Dividends Net Cash Flow Used for Fi 336 152 inancing Activities Change In Cash Cas h at beginning of period Cash atthe End of period -87,500 32,880 179,070 146,190Working Notes: Equipment Account isposalofEquipments Cash 162 330 655,16 Balance Accumulated Depreciation - Equipment Account ,90 osal of Equipment 44,90 ance Depreciation 83.790 90 Disposal of Equipment Account quipmemt Accumul epreciation Mortgage Note Payable Account ash (Payment) 36,600 Common StockAccount Cash (Issue) 302,000 02,000 6. Paidin Capital (Excess ofIssue Price over Par-Common Stock Cash (Issue) 100,000 Balance ance 8 Balance 410,0007. Retained Earnings Accoun 10 Net Income 139.590 »7370 Dividends (Paid) 152,900 01/01/18 Balance 31/12/18 Balance

8. Cash Received from Sale of Common Stock:

Common Stock- Par Value = $302,000

Add: Paid in Capital Excess of issue price over par value = $100,000

Total Amount Received = $402,000

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