Data table Norman Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues: Service revenue $ 280,000 Dividend revenue 8,700 $ 288,700 Expenses: Cost of goods sold 99,000 Salary expense 78,000 Depreciation expense 33,000 Advertising expense 2,000 Interest expense 2,600 Income tax expense 9,000 223,600 $ 65,100 Net income Print Done = Homework: Chapter 11 Homework Question 1, E11-21A (si... Part 1 of 5 HW Score: 0%, 0 of 15 points O Points: 0 of 15 Save The income statement and additional data of Norman Travel Products, Inc., follow: Click the icon to view the income statement) (Click the icon to view the additional data.) Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2021, 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. decrease in cash.) Norman Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2021 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by used for) operating activities: Net cash provided by used for) operating activities View instructor tip Help me solve this Get more help Clear all Check answer Data table Norman Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues: Service revenue $ 280,000 Dividend revenue 8,700 $ 288,700 Expenses: Cost of goods sold 99,000 Salary expense 78,000 Depreciation expense 33,000 Advertising expense 2,000 Interest expense 2,600 Income tax expense 9,000 223,600 $ 65,100 Net income Print Done = Homework: Chapter 11 Homework Question 1, E11-21A (si... Part 1 of 5 HW Score: 0%, 0 of 15 points O Points: 0 of 15 Save The income statement and additional data of Norman Travel Products, Inc., follow: Click the icon to view the income statement) (Click the icon to view the additional data.) Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2021, 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. decrease in cash.) Norman Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2021 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by used for) operating activities: Net cash provided by used for) operating activities View instructor tip Help me solve this Get more help Clear all Check
