E11-19A (similar to) Question Help The income statement and additional data of Newton Travel Products, Inc., folow: (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 activities (Une parontheses or a minun sign for numbers to be subtracted and 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 Adjustments to reconcile not income to net cash provided by (used for) operating activities i i Data Table Newton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 238,000 8,600 $ 246,600 98,000 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 57,000 39,000 Interest expense 4,100 2,700 13,000 Income tax expense 213,800 Net income $ 32,800 Print Done Clear All i More Info atior Additional data: a. Acquisition of plant assets was $195,000. Of this amount, $140,000 was paid in cash and $55,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $79,000. c. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $12,000. e. Payment of dividends was $11,000. f. From the balance sheets: the December 31, 2018 2017 Current assets: Cash $ $ 10,000 31,000 48,000 Accounts receivable Inventory Prepaid expenses 60,000 49,000 33,000 9,200 8,400 Current liabilities: Accounts pavable 39.000 $ 20.000 Print Done E11-19A (similar to) Question Help The income statement and additional data of Newton Travel Products, Inc., folow: (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 activities (Une parontheses or a minun sign for numbers to be subtracted and 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 Adjustments to reconcile not income to net cash provided by (used for) operating activities i i Data Table Newton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 238,000 8,600 $ 246,600 98,000 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 57,000 39,000 Interest expense 4,100 2,700 13,000 Income tax expense 213,800 Net income $ 32,800 Print Done Clear All i More Info atior Additional data: a. Acquisition of plant assets was $195,000. Of this amount, $140,000 was paid in cash and $55,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $79,000. c. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $12,000. e. Payment of dividends was $11,000. f. From the balance sheets: the December 31, 2018 2017 Current assets: Cash $ $ 10,000 31,000 48,000 Accounts receivable Inventory Prepaid expenses 60,000 49,000 33,000 9,200 8,400 Current liabilities: Accounts pavable 39.000 $ 20.000 Print Done