Data table me 30, 2018 and cash flows for the lete the remaining od) 2018 June 30, 2017 Th Current assets: Cash and cash equivalents $ 5,700 $ 13,500 Accounts receivable 14,300 21,700 Inventories Prepaid expenses 63.000 60,900 ctiviti 13,400 1,600 Current liabilities: g ac Accounts payable $ 58,000 $ 56,300 Accrued liabilities 24,300 17,300 Income tax payable 9,200 10,200 Print Done June 3 More info of cash mplete t ethod) Acquisition of land by issuing note payable Amortization expense. Payment of cash dividend Cash purchase of equipment... Issuance of long-term note payable to borrow cash Proceeds from sale of long- - X $ 115,000 term investment $13,000 10,000 Depreciation expense 15,600 29,000 Cash purchase of building 52,000 ort noncas Net income 25,000 45,600 Issuance of common stock for cash (Use pare 12,000 42,000 Stock dividend 9,000 Print Done flows The ren - X Requirements 1. Prepare Loop Movie Theater Company's statement of cash flows for the year ended June 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. 2. Evaluate Loop's cash flows for the year. Mention all three categories of cash flows, and give the rationale for your evaluation. 3. Report vities. (L Print Done The comparative balance sheets of Loop Movie Theater Company at June 30, 2018 and 2017, reported the following: Requirement 1. Prepare Loop Movie Theater Company's statement of cash flows for the year ended June 30, 2018, using the indirect method to report cash flows from operating activities Repa schedule. Start by completing the cash flows from operating activities. Then complete the remaining statement of cash flows and the accompanying schedule of noncash investing and financing activities ( net decrease in cash) Loop Movie Theater Company Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities The comparative balance sheets of Loop Movie Theater Company at June 30, 2018 and 2017, reported the following Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (uned for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase idermasel in rash The comparative Sarance shee (Click the icon to view the balance sheets) ansactions during the year ended June 30, 2018, included ( Noncash investing and Requirement 2. Evaluats Lag's cash w for the year Mention all the categories of cash and give the rationale for al Loop Movie Theater Company's cash flok Lep Me The grated a And pay cash d cash own gwlargely cash few from Sancing acides. These Sanding actes indicate the Lane Mo Theater