Preparing the statement of cash flows-indirect method, evaluating cash flows,a The Statement of Cash Fl Learning Objectives y at December 31, 2018, 1. Net Cash Used for n The comparative balance sheet of Jackson Educational Supply at December 31, 2018, Act $(152,70) reported the following 2018 2017 Current Assets: Cash Accounts Receivable Merchandise inventory 62,600 60,400 $87,700 23,500 15,300 22,000 Current Liabilities: Accounts Payable Accrued Liabilities 28,100 10,600 26,100 11,300 Jackson's transactions during 2018 included the following Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 16,200 Depreciation expense 54,700 48,000 16,700 98,000 57,600 Purchase of building with cash Net income 105,000 Requirements 1. Prepare the statement of cash flows of Jackson Educational Supply for the year 31,2018. Use the indirect method to report cash flows from cash flows for the year. Mention all three categories of cash lar activity for 2019, what is its expected free cash flow? ended December operating activities 2. Evaluate Jackson's flows, and give the reason for your evaluation