Part 1 of 5 O Points:0 dl 5 id Pa ne 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 Requirement 1. Preparo Nowian's statement of cash flows for the year ended December 31, 2018 using the indirect method Start by completing the cash flows from operating activities. Then comploto 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) Newman Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by used for operating activities bee K col ini Net cash provided by used for operating activities - st Data table ag Newman Travel Products, Inc. s a Income Statement at Year Ended December 31, 2018 n or Revenues Service revenue $ 234,000 WI Dividend revenue 8,000 $ 242,000 It ar 94,000 ied 62,000 Expenses Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 25,000 om 3,000 op 3,300 9,000 196,300 Net income $ 45,700 More info a. Acquisition of plant assets was $143,000. Of this amount, $ 103,000 was paid in cash and $40,000 was financed by signing a note payable b. Proceeds from the sale of land totaled $27,000 c. Proceeds from the issuance of common stock totaled $100,000. d. Payment of a long-term note payable was $21,000. e. Payment of dividends was $14,000. f. From the balance sheets December 31, 2018 2017 Current assets: Cash $ $ 87,100 59,000 Accounts receivable 150,000 38,000 29.000 9,900 Inventory Prepaid expenses 61,000 8,100 Current liabilities: Accounts payable $ $ $ 26,000 39,000 18,000 Accrued liabilities 79,000 Part 1 of 5 O Points:0 dl 5 id Pa ne 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 Requirement 1. Preparo Nowian's statement of cash flows for the year ended December 31, 2018 using the indirect method Start by completing the cash flows from operating activities. Then comploto 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) Newman Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by used for operating activities bee K col ini Net cash provided by used for operating activities - st Data table ag Newman Travel Products, Inc. s a Income Statement at Year Ended December 31, 2018 n or Revenues Service revenue $ 234,000 WI Dividend revenue 8,000 $ 242,000 It ar 94,000 ied 62,000 Expenses Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 25,000 om 3,000 op 3,300 9,000 196,300 Net income $ 45,700 More info a. Acquisition of plant assets was $143,000. Of this amount, $ 103,000 was paid in cash and $40,000 was financed by signing a note payable b. Proceeds from the sale of land totaled $27,000 c. Proceeds from the issuance of common stock totaled $100,000. d. Payment of a long-term note payable was $21,000. e. Payment of dividends was $14,000. f. From the balance sheets December 31, 2018 2017 Current assets: Cash $ $ 87,100 59,000 Accounts receivable 150,000 38,000 29.000 9,900 Inventory Prepaid expenses 61,000 8,100 Current liabilities: Accounts payable $ $ $ 26,000 39,000 18,000 Accrued liabilities 79,000