P11-60A (similar to) Question Help O The comparative balance sheets of Medford Movie Theater Company at September 30, 2018 and 2017, reported the following: (Click the icon to view the balance sheets.) Medford's transactions during the year ended September 30, 2018, included: i (Click the icon to view the transaction data. ) Read the requirements. Requirement 1. Prepare Medford Movie Theater Company's statement of cash flows for the year ended September 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. Start by completing the cash flows from operating activities. Then complete the remaining statement of cash flows and the accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Data Table i More Info September 30, 2018 2017 $ 12,700 Current assets: Proceeds from sale of long- 91,000 term investment 4,000 Depreciation expense 40,000 Cash purchase of building Net income 15,200 S 2,800 $ Acquisition of land by issuing note payable $ Amortization expense..... Payment of cash dividend... Cash purchase of equipment ......... Issuance of long-term note payable to borrow cash 16,000 41,000 39,000 14,300 63,000 21,900 60.800 3,100 4.000 81,900 Issuance of common stock for cash 43,000 Stock dividend ............. Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income tax payable 15,000 14.000 $ 57,400 S 57,600 3,800 55.900 37.600 Ch Done Print 10.800 ? 6 parts remaining Clear All Print Done Final Check i Requirements 1. Prepare Medford Movie Theater Company's statement of cash flows for the year ended September 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. 2. Evaluate Medford's cash flows for the year. Mention all three categories of cash flows, and give the rationale for your evaluation. Print Done