his Question: 20 pts 11 of 20 completo This Test: 100 pts possible The income statement and additional data of Norman Travel Products, inc.foto (Click the icon to view the income statement) (Click the icon to view the additional data) Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2017 in the direct method 2. Evaluate Noman's cash flows for the year. In your evaluation, mention all these categories of cashows and get reason for your ton Requirement 1. Prepare Norman's statement of cash flows for the year ended December 31, 2017 in the indirect method Start by completing the cash fows from operating activities. The complete each section of those of castows, cluding the non-cash investiganid tarong activities (Round your owers to the nearest whole dollar. Use parentheses or a minus sign for numbers to be subtracted and for negative amounts) Norman Travel Products, Inc. Statement of Cash Flows Year Ended December 31, 2017 Cash low to contingat Adjusts to reconcho tincome to Choose from any list or enter any number in the input fields and then continue to the next question 22" IN Type here to search Income Statement - www SV $ 350,381 10,771 $ 361.152 118,857 Revenues: Service revenue Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense and 66,857 33,429 5,324 2,600 7,429 234,496 Net income $ 126,656 Print Done . EI ASUS ZenBook Additional data: a. Acquisition of plant assets was $247,619. Of this amount, $198,095 was paid in cash and $49,524 by signing a note payable. b. Proceeds from sale of land totalled $28,476. C. Proceeds from issuance of common share totalled $74,286. d. Payment of long-term note payable was $16,095. e. Payment of dividends was $12,381. f. From the balance sheets: December 31, 2017 2016 Current Assets: Cash Accounts receivable $ 185,714 $ 171,971 54,476 70,571 Print Done o . w ASUS ZenBook 3 f7 O/ 18 19 for f ( e. Payment of dividends was $12,381. f. From the balance sheets: nde atio December 31, 2017 2016 rth her nu $ 185,714 $ 171,971 ar 54,476 70,571 . In WS 20 Current Assets: Cash Accounts receivable Inventory Prepaid expenses Current Liabilities: Accounts payable Accrued liabilities 128,762 11,762 89,143 10,276 47,048 $ 28,476 29,714 13,619 Print Done ot ASUS ZenBook 15 16 18 19 f1012 4 % 5 6 & 7 00 9 C 2 3 R T T y n Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2017, using the 2. Evaluate Norman's cash flows for the year. In your evaluation, mention all three categories of Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Cash firiws from investing activitine Choose from any list or enter any number in the input fields and then continue to the next qu Type here to search ESC Echapp 71 X 14 239 15 3 176 @ $ 1 2 3 % 5 # 4. @ A a Q W In R T ops Lock Net cash provided by (used for) operating activities ash flows from investing activities: Net cash provided by (used for) investing activities ash flows from financing activities: ose from any list or enter any number in the input fields and then continue to the next ques Type here to search . O ESC Echopp. X f2 BS IS f6 7 @ 11 # $ % 2 1 # 1 + 3 4 a 5 e a W E R T This Question: 20 pts 11 of 25 cm This Test: 100 is pos The income statement and additional data of Norman Travel Products, Inc., follow Click the icon to view the income statement.) (Click the icon to view the additional data Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2017 using the Indirect method 2. Evaluate Norman's cash flows for the year in your evaluation, mention altre categories of cash flows and give the reason for your en Not increase (decrease in cash Non-cashing and financing active Requirement 2. Evaluate Norman's cash flows for the year in your evaluation mentional the categories of cash flows and give the con for your valuation Norman's cash fowlooks are the main source of cash. The company tingin new plant andets The trancing onsactions duled Choose from any list or enter any number in the input fields and then continue to the next question anpo 2021-0023 O 2 E Type here to search ASUS Zenbook 450 6 7 9 8 S 4 6 0 VA 5 3 2 7 S
