(20 Points) EXERCISE SECTION Prepare Nyman's statement of cash flows and free cash flovw Nyman Travel Products, Inc. Income Statement Year Ended December 31, 2016 Revenwes: Service revenue Dividend revenue $234,000 8,300 $242,300 Expenses: Cost of goods sold Salary expense Depreciation expense 103,000 62,000 21,000 Advertising expense Interest expense Income tax expense 12,000 4,300 2.100 8,000 212,400 Net income $29,900 Nyman Travel Products, Inc. Balance Sheet December 31, 2016 2015 Current assets: Cash Accounts receivable $68,000 42,000 56,000 48,000 $.700 61,000 9,600 Prepaid expenses Current liabilities: Accounts payable Accrued liabilities $38,000 $25,000 99,00082,000 Additional data: a) Acquisition of plant assets was $134,000 of this amount $ 90,000 was paid in cash and $ 44,000 by signing a note payable b) Proceeds from sale of land totaled $34,000. c) Proceeds from issuance of common stock totaled $60,000. d) Payment of long-term note payable was $14,000. e) Payment of dividends was $12,000 ) Acquisition of land by issuing long-term note payable $199,000 g) Gain on sale of equipment $8,000 h) Retirement of bonds payable by issuing common stock $62,000 ij) Purchase of treasury stock $14,500