Allure Digital Services, Inc., has provided the following data from the company's records for the year just ended December 31: E (Click the icon to view the data.) Requirements 1. Prepare the statement of cash flows for Allure Digital Services, Inc., using the direct method for cash flows from operations. Note that you will need to calculate the ending balance of cash and cash equivalents. Include a schedule of noncash investing and financing activities. 2. Evaluate Allure's cash flows for the year. Discuss each of the categories of cash flows in your response. Data table - X a. Collection of interest. $ 5,700 lents. Include a schedule of Requirement 1. Prepare the statement of cash flows for Allure Digital Services, Inc., using the direct method fo noncash investing and financing activities. b. Cash sales. $ 252,500 Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted on C. Credit sales. $ 676,000 d. Proceeds from sale of long-term investment $ 12,600 Allure Digital Services, Inc. Statement of Cash Flows (Direct Method) For the Year Ended December 31 e. Gain on sale of investment. $ 2,500 $570,000 f. Payments to suppliers.. g. Cash payments to purchase plant assets. h. Depreciation expense. $ Operating Activities: 52,600 $ 63,000 i. Salaries expense $ 77,200 j. Payment of short-term note payable by issuing common stock. . $ 72,300 k. Cost of goods sold. $ 569,000 1. Proceeds from issuance of long-term note payable. $ 24,600 m. Income tax expense and payment. $ 38,700 n. Proceeds from issuance of common stock. $ 21,500 o. Receipt of cash dividends $ 6,600 p. Interest revenue $ 6,100 q. Payment of cash dividends. $ 28,600 Net cash provided by (used for) operating activities Next Allure Digital Services, Inc., has provided the following data from the company's records for the year just ended December 31: Data table Operating Activities: j. Payment of short-term note payable by issuing common stock. . $ 72,300 k. Cost of goods sold. . $ 569,000 1. Proceeds from issuance of long-term note payable. $ 24,600 m. Income tax expense and payment. $ 38,700 n. Proceeds from issuance of common stock. $ 21,500 o. Receipt of cash dividends $ $ 6,600 p. Interest revenue $ 6,100 q. Payment of cash dividends.. $ 28,600 Net cash provided by (used for) operating activities Investing Activities: r. Collections of accounts receivable $ 574,500 3,600 43,500 12,200 17,700 Net cash provided by (used for) investing activities Financing Activities: S. Amortization expense.. $ t. Payments on long-term notes payable $ u. Interest expense and payments $ V. Purchase of equipment by issuing common stock to seller. $ W. Payment of salaries..... $ X. Proceeds from sale of plant assets $ y. Loss on sale of plant assets.. $ z. Cash and cash equivalents balance, beginning of year. ........ $ 74,300 24,900 3,000 25,100 Net cash provided by used for) financing activities Print Done (Click the icon to view the data.) Net cash provided by used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Noncash investing and financing transactions: Total noncash investing and financing activities Requirement 2. Evaluate Allure's cash flows for the year. Discuss each of the categories of cash flows in your response. The year was a v year from a cash-flow standpoint. Operations cash, and the company was v to issue new stock, which means the stockholders faith in the company. The business in plant assets and their debt, which generally bodes for the future