Data Table Newton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 283,000 8,300 $ 291,300 98,000 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 61,000 22.000 4,200 2,500 13,000 200,700 Net Income $ 90,600 Print Done More Info Additional data: a. Acquisition of plant assets was $144,000. Of this amount, $90,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $45,000. c. Proceeds from the issuance of common stock totaled $60,000. d. Payment of a long-term note payable was $21,000. e. Payment of dividends was $10,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash Accounts receivable Inventory Prepaid expenses 165,000 39,000 40,000 9,500 $ 25,700 60.000 73.000 8,200 Print Done The income statement and additional data of Newton Travel Products, Inc., follow Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Newton'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 Requirement 1. Prepare Newton'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 act for a net decrease in cash.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Net Income 90600 Adjustments to reconcile not income to net cash provided by used for) operating activities: Depreciation 22000 Decrease in accounts receivable 21000 Decrease in inventory Increase in prepaid expenses BE Year Ended December 31, 2018 Cash flows from operating activities: Net Income 90600 22000 21000 Adjustments to reconcile net income to net cash provided by (used for) operating activities Depreciation Decrease in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Net cash provided by (used for) operating activities Cash flows from investing activities: Acquisition of plant assets Proceeds from sale of land Net cash provided by used for) investing activities Cash flows from financing activities: Proceeds from issuance of common stock Payment of long-term note payable Payment of dividends Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2017 Cash balance, December 31, 2018 Noncash investing and financing activities: Natashrded by Bed or racing Ne dersin CD 2017 Moncashiresting and financing Roman to cows for the year in your won with and you Oh The company web AB The farge from any lot or enter wy number input fits and the contrato