E11-19A (similar to) Question Help The income statement and additional data of Noel Travel Products, Inc., follow: E (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Noel'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 Noel'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.) Noel Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: 2$ Net income 75,700 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation 33,000 Decrease in accounts receivable 12,000 Increase in inventory (4,000) Increase in prepaid expenses (1,100) Increase in accounts payable 11,000 (46,000) 4,900 Decrease in accrued liabilities 80,600 Net cash provided by (used for) operating activities Cash flows from investing activities: Acquisition of plant assets (102,000) 34,000 Proceeds from sale of land (68,000) Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities * E11-19A (Similar to) Question Help The income statement and additional data of Noel Travel Products, Inc., folow: E(Click the icon to view the income statement.) O (Cick the icon to view the addional data.) Requirements 1. Prepare Noel'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 Noels 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 fows, 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) Noel Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: 75,700 Net income Adjustments to reconcile net income to net cash provided by (used for operating activities Depreciation 33,000 Decrease in accounts receivable 12,000 Increase in inventory (4.000) Increase in prepaid expenses (1,100) Increase in accounts payable 11,000 (46,000) 4.900 Decrease in accrued liabities Net cash provided by (used for) operating activites 80,600 Cash flows from investing activities: Acquisition of plant assets (102.000) 34,000 Proceeds from sale of land Net cash provided by (used for) Data Table Cash flows from financing activities: Noel Travel Products, Inc. Income Statement Net cash provided by (used for) Year Ended December 31, 2018 Revenues: Service revenue 279.000 9,000 $ 288.000 Dividend revenue Expenses Cost of goods sold 101.000 Salary expense 62,000 Depreciation expense 33.000 Advertising expense 2.000 Interest expense 3,300 11.000 212 300 Income tax expense $ 75,700 Net income Print Done The noome smertand assonal da of Noe Travei Product. he, o Cick he iconew the inoome tement nto vie the adonal data Requirements 1 Prepare Noels satement of cesh fows for the year ended December 31, 2018. uing the indrectmethod 2. Evatute he company c ow he yar. n yrtn menton a te categutes of ceh ownd give heratonae or y etn Regurement 1. Prepare N sttementof can fos te the yewended December 31, 201k, uning te ndretetot. Sart by completing the cash fows fromoperating activites. Then comnplete each section of the statement of cash fown, including the noncash inventing and francing avites. se parenteses or amiugn for numbers te be edandtoranet decreasein c Noel Travel Produc, In. Statement of Cash Flows ndirect Mehed Year Ended December 31, 2018 Canh flows from operating activities Net ome Adamerts toreconcile net income to et ch provided by nd fa perating aes Depreciation 33.000 Dereae cea 12.000 Inoease iniventory 000) Inoaseinpadpenses Inorease inacounts payatle 1.000 Dereasein d s ng e s00 Nel cesh provided by (ed Cash osro investingtivities Acqusition of plart as (102.000) M.000 Prods fromaleofd Natcah providedy 6 More nt Canh fes trom tnaning Aonal d . Acquistion of plart asses was $155.000. ors amour S102.00 s potnceshnd S5.000 was trancetby ngte Net cah pvdey Proceedom hee ofandotaed S4.000 e. Proceed om heneofcomen 4 Payment of a longtem note payablean S12.00. . Payment of dividends was S14.000. L From he balance het c00 December . 2018 201 Cument aset Cah Accounts recaivable 59.000 Intery 90.000 Prepaid epenses 10.00 Cument labes Acoued labites 2.000 Print Done Choose trom any les or enter any nunber in the inout felds and then click Check Answer parts 2 ng Clear A Check Awer