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The income statement and additional data of Newman Travel Products Inc. Tolow 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, 2017, using the direct method 2. Evaluate Newman's cash flows for the year in your evaluation, mention all three categories of cash flows and give the reason for your evaluation Income Stement Newman Travel Products, Inc. Income Statement Year Ended December 31, 2017 Revenues: Service revenue $ 296,476 9,114 Dividend revenue $ 305,590 100,571 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 56,571 28,286 4,505 Interest expense 2.200 6.286 Income tax expense 198,419 $ 107, 171 Net income Print Done X i Data Additional data: a. Acquisition of plant assets was $209,524. Of this amount, $167,619 was paid in cash and $41,905 by signing a note payable. b. Proceeds from sale of land totalled $24.095. C. Proceeds from issuance of common share totalled $62,857. d. Payment of long-term note payable was $13,619. e. Payment of dividends was $10,476. f. From the balance sheets: December 31, 2017 2016 Current Assets: Cash S 157 143 Accounts receivable 46,095 $ 145,513 59,714 75,429 8,695 Inventory 108.952 9.952 Prepaid expenses Current Liabilities: Accounts payable Accrued liabilities 5 39.810 $ 24,095 11,524 25.143 Print Done Statement of Cash Flows Year Ended December 31, 2017 Cash flows from operating activities: Net income 107171 Adjustments to reconcile net income to net cash provided by (used for) operating activities Depreciation 28286 Net cash provided by (used for) operating activities Cash flows from investing 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 Nel che dog Netowe (decreasin Neocachesting and tracing Requirement 2. Evaluate Newmanowstore in your momentos of how and when you Newman's cash flow the manure of th The coming was Therang