BA211 Financial Accounting Summer 2020 (400.1) Homework: HW #9 Ch. 11 Score: 0 of 2 pts 4 of 7 (3 complete) E11-19A (similar to) The income statement and additional data of Newbury Travel Products, Inc., follow (Click the icon to view the income statement) (Click the icon to view the additional data) Requirements 1. Prepare Newbury'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 More info decrease in a Requirement 1. Prepare Newbury'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 (u Newbury Travel Products, Inc. Statement of Cash Flows (Indirect Method) i Data Table Year Ended December 31, 2018 Cash flows from operating activities: Net income 29900 Newbury Travel Products, Inc. Adjustments to reconcile net income to Income Statement net cash provided by (used for operating activities Year Ended December 31, 2018 Decrease in accounts receivable Revenues Decrease in inventory Service revenue $ 238,000 Increase in prepaid expenses Dividend revenue Increase in accrued liabilites Expenses Acquisition of plant assets Cost of goods sold 104,000 Salary expense 57,000 Net cash provided by used for operating activities Depreciation expense 39,000 Advertising expense 4.300 Interest expense 2500 Income tax expense 10.000 216,800 $ 29,900 Net income Choose from any list or enter any number in the input fields and then click Check Answer Additional data a. Acquisition of plant assets was $118.000. Of this amount 575.000 was paid in cash and 543,000 was financed by signing a note payable b. Proceeds from the sale of land totaled 25,000 c. Proceeds from the issuance of common stock totaled 580.000 d. Payment of a long-term note payable was $11,000 e. Payment of dividends was $18.000 1. From the balance sheets December 31 2018 2017 Current assets Cash 5 150,000 $15.900 Accounts receivable 47 000 58.000 Inventory 33.000 59.000 Prepaid expenses 9.300 8.500 8.700 $ 246 700 Current liabilities: Accounts payable Accrued liabilities 5 40.000 21,000 $ 19,000 14.000 Pin 4 parts remaining Print Done