Homework: Homework - Chapter 11 Save Score: 0 of 1 pt 3 of 7 (4 complete) HW Score: 57.14%, 4 of 7 pts E11-19A (similar to) Question Help The income statement and additional data of Newman Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Newman'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. A More Info Requirement 1. Prepare Newman's statement of cash flows for the year ended December 31, 2018, using the indirect method. Additional data: a. Acquisition of plant assets was $154,000. Of this amount, $99,000 was paid in cash and $55,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $34,000. G. Proceeds from the issuance of common stock totaled $36,000. d. Payment of a long-term note payable was $14,000. e. Payment of dividends was $18.000. f. From the balance sheets: December 31 2018 2017 Current assets: Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and finand for a nel decrease in cash.) Newman Travel Products, Inc. i Data Table Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Newman Travel Products, Inc. Cash flows from operating activities: Income Statement Year Ended December 31, 2018 Adjustments to reconcile net income to Revenues: net cash provided by used for) operating activities: Service revenue $ 245,000 Dividend revenue 8,100 $ 253,100 Expenses: Cost of goods sold 102,000 Salary expense 59,000 Depreciation expense 39,000 Advertising expense 2,900 Choose from any list or enter any number in the input fields and then click Check And Interest expense 2,300 7,000 212,200 Income tax expense 4 remaining $ 40,900 Net income Cash S Accounts receivable Inventory Prepaid expenses 65,000 45,000 94,000 9,700 35,900 59,000 65,000 8,900 Current liabilities: Accounts payable Accrued liabilities $ $ 35,000 32,000 23,000 68,000 4 parts