Requirement 1. Prepare the 2024 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Grand Tree, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income 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 ActivitiesCash 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 Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? O A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay its debts and dividends O B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash paymentsGrand Tree, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 443,000 Cost of Goods Sold 208,200 Gross Profit 234,800 Operating Expenses: Salaries Expense 74,400 Depreciation Expense-Plant Assets 14,900 Other Operating Expenses 10,400 Total Operating Expenses 99,700 Operating Income 135, 100 Other Income and (Expenses): Interest Revenue 8,900 Interest Expense (21,200) Total Other Income and (Expenses) (12,300) Net Income Before Income Taxes 122,800 Income Tax Expense 19,500 Net Income $ 103,3002024 2023 Assets Current Assets: Cash 26,800 S 15,600 Accounts Receivable 26,300 25,000 Merchandise Inventory 79,000 91,200 Long-term Assets: Land 34,600 13,000 Plant Assets 112, 150 103, 150 Accumulated Depreciation-Plant Assets (16,250) (15,450) 262,600 5 232,500 Total Assets Liabilities Current Liabilities: Accounts Payable 35,200 S 30,000 Accrued Liabilities 28,200 30,500 Long-term Liabilities: Notes Payable 73,000 106,000 Total Liabilities 136,400 166,500 Stockholders' Equity Common Stock, no par 88,600 64,300 Retained Earnings 37,600 1,700 Total Stockholders' Equity 126,200 66,000 Total Liabilities and Stockholders' Equity 262,600 $ 232,500