A More Info - X Additional data: a. Acquisition of plant assets was $214,000. Of this amount, $160,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. c. Proceeds from the issuance of common stock totaled $36,000. d. Payment of a long-term note payable was $17,000. e. Payment of dividends was $12,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ Accounts receivable 165,000 41,000 60,000 9,500 72,800 58,000 59,000 8,300 Inventory Prepaid expenses Print Done The income statement and additional data of Newton Travel Products, Inc., follow: (Click the icon to view the income statement.) i (Click the icon to view the additional data.) Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Requirement 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Choose from any list or enter any number in the input fields and then click Check Answer. The income statement and additional data of Newton Travel Products, Inc., follow: E (Click the icon to view the income statement.) (Click the icon to view the additional data.) * Data Table Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Year Ended December 31, 2018 Cash flows from operating activities: Newton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 280,000 Adjustments to reconcile net income to net cash provided by (used for) operating activities: 8,400 $ 288.400 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 104,000 59,000 35,000 4,400 2,600 13,000 Net cash provided by used for) operating activities Income tax expense 218,000 70,400 $ Net income Choose from any list or enter any number in the input fields and then click Check Answer. 1 parts + remaining Clear All Print Done A More Info - X Additional data: a. Acquisition of plant assets was $214,000. Of this amount, $160,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. c. Proceeds from the issuance of common stock totaled $36,000. d. Payment of a long-term note payable was $17,000. e. Payment of dividends was $12,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ Accounts receivable 165,000 41,000 60,000 9,500 72,800 58,000 59,000 8,300 Inventory Prepaid expenses Print Done The income statement and additional data of Newton Travel Products, Inc., follow: (Click the icon to view the income statement.) i (Click the icon to view the additional data.) Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Requirement 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Choose from any list or enter any number in the input fields and then click Check Answer. The income statement and additional data of Newton Travel Products, Inc., follow: E (Click the icon to view the income statement.) (Click the icon to view the additional data.) * Data Table Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Year Ended December 31, 2018 Cash flows from operating activities: Newton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 280,000 Adjustments to reconcile net income to net cash provided by (used for) operating activities: 8,400 $ 288.400 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 104,000 59,000 35,000 4,400 2,600 13,000 Net cash provided by used for) operating activities Income tax expense 218,000 70,400 $ Net income Choose from any list or enter any number in the input fields and then click Check Answer. 1 parts + remaining Clear All Print Done