Current liabilities

2018

Accounts payable

$33,000

Accrued liabilities

$82,000

2019

Accounts payable $22000

Accrued Liabilites 57000

The income statement and additional data of Noel Travel Products, Inc., follow: Click the icon to view the income statement.) Click the icon to view the additional data.) Requirements 1. Prepare Noel'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 Ince (0/ 2) Requirement 1. Prepare Noel'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. (Usa parenthonos or a minus sign for numbers to be subtracted and for a not decreano Incash) Noel Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile not income to net cash provided by used for) operating activities Data table Noel Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 238,000 Dividend revenue 8,800 $ 246,800 94,000 54,000 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 21,000 4,100 2,500 9,000 184,600 Net income $ 62,200 Print Done More info Additional data: a. Acquisition of plant assets was $157,000. Of this amount, $103,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $23,000. C. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $14,000. e. Payment of dividends was $17,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ 125,000 $ 81,700 Accounts receivable 58,000 ) 44,000 60,000 9,500 Inventory Prepaid expenses 49,000 8,600 Current liabilities: Print Done The income statement and additional data of Noel Travel Products, Inc., follow: Click the icon to view the income statement.) Click the icon to view the additional data.) Requirements 1. Prepare Noel'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 Ince (0/ 2) Requirement 1. Prepare Noel'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. (Usa parenthonos or a minus sign for numbers to be subtracted and for a not decreano Incash) Noel Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile not income to net cash provided by used for) operating activities Data table Noel Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 238,000 Dividend revenue 8,800 $ 246,800 94,000 54,000 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 21,000 4,100 2,500 9,000 184,600 Net income $ 62,200 Print Done More info Additional data: a. Acquisition of plant assets was $157,000. Of this amount, $103,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $23,000. C. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $14,000. e. Payment of dividends was $17,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ 125,000 $ 81,700 Accounts receivable 58,000 ) 44,000 60,000 9,500 Inventory Prepaid expenses 49,000 8,600 Current liabilities: Print Done