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help with requirement 1&2 please!:) - Data table The Income statement and additional dat Click the icon to view the income sta Requirements 1. Prepare
help with requirement 1&2 please!:)
- Data table The Income statement and additional dat Click the icon to view the income sta Requirements 1. Prepare Newman's statement of cas 2. Evaluate the company's cash flows rationale for your evaluation Ing the noncash investing and financing Requirement 1. Prepare Newman's stad Start by completing the cash flows from activities. (Use parentheses or a minus New Statement Year Cash flows from operating activities Newman Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues Service revenue 245.000 8,300 Dividend revenue $ 253,300 Expenses Cost of goods sold 104.000 Salary expense 56,000 preciation expense 25,000 Advertising expenso 4,300 Interest expense 2,300 Income tax expenso 9,000 200,600 $ 52.700 Net Income Adjustments to reconcile net incom nel cash provided by (used for) opel Print Done ncome statement and additiond Click the icon to view the incom airements Prepare Newman's statement Evaluate the company's cash 11 nale for your evaluation uirement 1. Prepare Newman's by completing the cash flows vities. (Use parentheses or min pa noncash investing and financing Additional data: a. Acquisition of plant assets was $190,000 of this amount. $140,000 was paid in cash and $50,000 was financed by signing a note payable b. Proceeds from the sale of tand totaled $48,000 c. Proceeds from the issuance of common stock totaled $35,000 d. Payment of a long-term note payable was $12,000. .. Payment of dividends was $11,000 1. From the balance sheets: December 31 2021 2020 Current assets: Cash $ 33,000 600 Accounts receivable 45,000 57,000 Inventory 40,000 87.000 Prepaid expenses 9,800 8,300 Stateme Y Cash flows from operating acth $ Adjustments to reconcile neid net cash provided by used for Current liabilities: d. Payment of a long-term note payable was $12,000 e. Payment of dividends was $11,000 f. From the balance sheets: are Newman's cash flows fo meses or a min be noncash investing and financing December 31, 2021 2020 Statemd Y 33,000 $ 600 Current assets: Cash Accounts receivable Inventory Prepaid expenses 45,000 Operating activ 40,000 57,000 87,000 8,300 9,600 reconcile net in Bed by (used for Current liabilities: Accounts payable Accrued liabilities $ 30,000 $ 9,000 36,000 80,000 TE (Click the icon to view the incomo statoment) Click the icon he icon to view the additional data.) Requirements 1. Prepare Newman'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 Requirement 1. Prepare Newman's statement of cash flows for the year ended December 31, 2021, 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. (Uso parentheses or a minus son for numbers to be subtracted and for a net decrease in cash) Newman 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: 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 Net cash provided by used for) operating activities Cash flows from investing activities: Not cash provided by used for) investing activities Cash flows from financing activities Net cash provided by used for financing activities Net Increase (decrease in cash Cash balance, December 31, 2020 Requirements 1. Prepare Newman'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 Net cash provided by used for) investing activities Cash flows from financing activities: Net cash provided by (used for financing activities Net increase (decrease in cash Cash balance, December 31, 2020 Cash balance, December 31, 2021 Noncash investing and financing activities: Requirement 2. Evaluate Newman's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation Newman's cash flows look are the main source of cash. The company invested in new assets M. The financing transactions included All of these signs are Step by Step Solution
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