Newbury Travel Products, Inc.
	Income Statement
	Year Ended December 31, 2016
Revenues:
	Service revenue	$280,000
	Dividend revenue	8,700	$288,700
Expenses:
	Cost of goods sold	102,000
	Salary expense	61,000
	Depreciation expense	27,000
	Advertising expense	4,700
	Interest expense	2,200
	Income tax expense	6,000	202,900
Net income			$85,800

Requirements

1.	Prepare Newbury'sNewbury's statement of cash flows for the year ended December 31, 2016 using the indirect method.
2.	Evaluate Newbury'sNewbury's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation.

Requirement 1. Prepare Newbury statement of cash flows for the year ended December 31, 2016

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. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.)

Newbury Travel Products, Inc.

Statement of Cash Flows (Indirect Method)

Year Ended December 31, 2016

Cash flows from operating activities:

Adjustments to reconcile net income to

net cash provided by (used for) operating activities:

Net cash provided by (used for) operating activities