i Data - X Additional data: a. Acquisition of plant assets was $219,048. Of this amount, $175,238 was paid in cash and $43,810 by signing a note payable. b. Proceeds from sale of land totalled $25,190. c. Proceeds from issuance of common share totalled $65,714. d. Payment of long-term note payable was $14,239. e. Payment of dividends was $10,952. st f. From the balance sheet: December 31, 2020 2019 Current Assets: Cash $ 164,286 $ 152,130 Accounts receivable 48,190 62,429 Inventory 113,905 78,857 Prepaid expenses 10,405 9,090 Current Liabilities: Accounts payable $ $ 41,619 $ 25,190 Accrued liabilities 12,048 26,286 Print Done The income statement and additional data of Bolton Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Income Statement I Requirements 1. Prepare Bolton's statement of cash flows for the year ended December 31, 2020, using the indirect method. 2. Evaluate Bolton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Bolton Travel Products, Inc. Requirement 1. Prepare Bolton's statement of cash flows for the year ended December 31, 2020, 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 non-cash investing and financing activities, minus sign for numbers to be subtracted and for negative amounts.) Income Statement Year Ended December 31, 2020 Bolton Travel Products, Inc. Revenues Statement of Cash Flows Service revenue $ 309,952 9,529 Year Ended December 31, 2020 Dividend revenue $ 319,481 Cash flows from operating activities: Expenses Cost of goods sold 105,143 Adjustments to reconcile net income to Salary expense 59,143 net cash provided by (used for) operating activities: Depreciation expense 29,571 Advertising expense 4,710 Interest expense 2,300 Income tax expense 6,571 207,438 $ 112,043 Net income Requirements 1. Prepare Bolton's statement of cash flows for the year ended December 31, 2020, using the indirect method. 2. Evaluate Bolton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Net cash provided by (used for) operating activities Cash flows from investing activities: 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 Non-cash investing and financing activities: Requirements 1. Prepare Bolton's statement of cash flows for the year ended December 31, 2020, using the indirect method. 2. Evaluate Bolton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason 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 Non-cash investing and financing activities: Requirement 2. Evaluate Bolton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Bolton's cash flow looks are the main source of cash. The company is investing in new plant assets The financing transactions included