please answer to requirement 2 and 1 both
Requirement 2. Evaluate Breen's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Breen's cash flow looks strong are the main source of cash. The company is investing in new plant assets V. The financing transactions included Choose from any list or enter any number in the innut fields and then continue to the neyt question The income statement and additional data of Breen Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2017, using the indirect method. 2. Evaluate Breen'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 Breen's statement of cash flows for the year ended December 31, 2017, 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. (Round your answers to the nearest whole dollar. Use parentheses or a minus sign for numbers to be subtracted and for negative amounts.) Breen Travel Products, Inc. Statement of Cash Flows Year Ended December 31, 2017 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 Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: The income statement and additional data of Breen Travel Products, Inc., follow: E: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2017, using the indirect method. 2. Evaluate Breen'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: Requirement 2. Evaluate Breen's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Breen's cash flow looks are the main source cash. The company is investing in new plant assets The financing transactions included Choose from any list or enter any number in the input fields and then continue to the next question. Income Statement $ 402,824 Breen Travel Products, Inc. Income Statement Year Ended December 31, 2017 Revenues: Service revenue $ 390,810 12,014 Dividend revenue Expenses: Cost of goods sold 132,571 Salary expense 74,571 Depreciation expense 37,286 Advertising expense 5,938 Interest expense 2.900 8,286 Income tax expense Net income 261,552 $ 141,272 Print Done 1 Data Additional data: a. Acquisition of plant assets was $276,190. Of this amount, $220,952 was paid in cash and $55.238 by signing a note payable. b. Proceeds from sale of land totalled $31,762 C. Proceeds from issuance of common share totalled $82,857. d. Payment of long-term note payable was $17,952. e. Payment of dividends was $13,810. f. From the balance sheets: December 31, 2017 2016 Current Assets: Cash Accounts receivable Inventory Prepaid expenses Current Liabilities: Accounts payable Accrued liabilities $ 207,143 60,762 143,619 13,119 $ 191,814 78,714 99,429 11,462 $ $ 52.476 15,190 $ 31,762 33.143 Print Done
