E11-19A (similar to) Question Help 0 The income statement and additional data of Bolton Travel Products, Inc., follow. (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Bolton'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 I three categories of cash flows and give the rationale for your evaluation. Requirement 1. Prepare Bolton'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. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Bolton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments reconcile not income to net cash provided by (used for) operating activities: Nel cash provided by (used for) operating activities i Data Table - Bolton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 245,000 Dividend revenue 8,600 $ 253,600 104,000 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 54,000 33,000 3,000 Interest expense 1,900 6,000 Income tax expense 201,900 $ 51,700 Net income Print Done Additional data: a. Acquisition of plant assets was $136,000. Of this amount, $80,000 was paid in cash and $56,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. C. Proceeds from the issuance of common stock totaled $36,000. d. Payment of a long-term note payable was $11,000. e. Payment of dividends was $16,000. f. From the balance sheets: f. From the balance sheets: December 31, 2018 2017 Current assets: Cash 165,000 $ 10,400 Accounts receivable 50,000 61,000 60,000 65,000 Inventory Prepaid expenses 9,200 8,100 Current liabilities: Accounts payable $ 37,000 $ 20,000 Accrued liabilities 85,000 24,000