Data Table More Info Great Life, Inc. Income Statement Year Ended September 30, 2018 Revenues Sales revenue $ 267,000 9,500 $ 276,500 Additional data: a. Collections from customers are $20,000 more than sales. b. Payments to suppliers are $2,000 less than the sum of cost of goods sold plus advertising expense. c. Payments to employees are $1,500 more than salary expense. d. Dividend revenue, interest expense, and income tax expense equal their cash amounts e. Acquisition of plant assets is $170,000. Of this amount, $115,000 is paid in cash and $55,000 is financed by signing a long-term note payable. f. Proceeds from the sale of land totaled $27,000. g. Proceeds from the issuance of common stock totaled $35,000. h. Payment of a long-term note payable is $16,000. i. Payment of dividends is $11,500. j. Cash balance, September 30, 2017, was $27,000. Dividend revenue Expenses: Cost of goods sold 106,000 70,000 Salary expense Depreciation expense Advertising expense 22,000 8,000 Interest expense 4,800 Income tax expense 11,000 221,800 Print $ 54,700 Done Net income Print Done stion. The income statement and additional data of Great Life, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Read the requirements Requirement 1. Prepare Great Lite's statement of cash flows and accompanying schedule of noncash investing and financing activities. Report operating activities using the direct method. Start by completing the cash flows from operating activities. Then complete the rest of the statement of cash flows and accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Great Life, Inc. Statement of Cash Flows (Direct Method) Year Ended September 30, 2018 Cash flows from operating activities: Receipts: Total cash receipts Payments: Total cash payments Net cash provided by (used for) operating activities Net cash provided by used for operating activities Cash flows from investing activities: Net cash provided by used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, September 30, 2017 Cash balance, September 30, 2018 Noncash investing and financing activities: Requirement 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. Great Life's cash flows look are the main source of cash. The company invested in new assets Great Life was able to All of these signs are Choose from any list or enter any number in the input fields and then continue to the next