(Solved): The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as ...

The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Total assets $48,030 73,800 105,430 4,300 214,770 (55,840) $390,490 Liabilities and Stockholders' Equity I Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are $82,000 0 $58,980 79,520 98,540 2,990 176,580 (43,300) $373,310 13,000 200,000 95,490 $390,490 $78,020 111,990 8,000 105,000 70,300 $373,310 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, $64,490. b. Depreciation reported on the income statement, $27,200. c. Equipment was purchased at a cost of $52,850, and fully depreciated equipment costing $14,660 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. 5,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $39,300. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Orange Angel Enterprises Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities 0 0.0000 Net cash flows from operating activities Cash flows from (used for) investing activities: Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y8 Cash balance, December 31, 20Y8 8 0000