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P11-62A. (Learning Objectives 2,& Prepare t of cash flem -direct methal) Une doe Queen Supply Corp. data from PLl-6IA the statement Requirements . Prcpare the company's 201tanement of co Thos ing theet nethod 2 How can e L023 P11-61A. (Larming Oliejectives 2, 3. Prepare the statement of oash flows Indirect method The 2018 and 2017 conparstive baluuce shects and 2018 incoic tstcment of Quecn Supply Corp. follow Balance Sheets 01 1,200 Prepald 0Land 2 Total assets 13 Current Labiliies 4 Accounts 15 6Other accrued 700 27 000 18,1008900 2,700 ,000 term labilr 19 Stockholders' equity 400-_ 21600 1Retained Year Ended December 31, 2018 Sales 9,000 5Cost of goods sold 6 Salary expense 186,600 16,800 49 600 4800 expense Other operating expense 9 Interest expense 10 Income tas 1Total expenses 12 Net income 13 tar expense Queen Supply had no noncash investing and financing transactions during 2018. During the year, there were no sales of land or equipment, no payment of motes payable, no retirements of stock, and no treasury stock transactions Requirements 1. Prepare Queen Supply's 2018 statement of cash flows Use the indirect mcthod to format operating activities. 2. How can the concepts used in this problem help you evaluate an investment