E11-19A (similar to) Question Help The income statement and arkitional data of Non Travel Products, Inc., follow: (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 inairect 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) Yoar Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to nel cash provided by (used for) operating activities 1 Net cash provided by used for operating activities i Data Table -X $ Noel Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue 237,000 8,900 Dividend revenue $ 245,900 Expenses: Cost of goods sold 102,000 Salary expense 62,000 Depreciation expense 39,000 Advertising expense 3,000 Interest expense 2,100 Income tax expense 13,000 221,100 $ 24,800 Net income Print Done i More Info Additional data: a. Acquisition of plant assets was $128,000. Of this amount, $75,000 was paid in cash and $53,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $34,000. c. Proceeds from the issuance of common stock totaled $100,000. d. Payment of a long-term note payable was $11,000. e. Payment of dividends was $15,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ 165,000 $ Accounts receivable 47,000 40,000 40,800 58,000 91,000 Inventory Prepaid expenses 9,700 8,100 Current liabilities: Accounts payable $ 30,000 $ 13,000 Accrued liabilities 18,000 68,000 Print Done