S11-8 (similar to) Question Help Motorvehicles of Boston, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheets.) Calculate the following investing cash flows, enter all amounts in thousands a. Acquisitions of plant assets (all were for cash). Motorvehicles of Boston sold no plant assets during the year. b. Proceeds from the sale of investments. Motorvehicles of Boston purchased no investments during the year. Data Table a. Compute the acquisitions of plant assets (all were for cash). Motorvehicles of Boston sold no plant assets during the year. The acquisition of plant assets is thousand, A Data Table Motorvehicles of Boston, Inc. Comparative Balance Sheets December 31, 2018 and 2017 (In thousands) Assets 2018 2017 Llabilities 2018 2017 Current: $ 20 $ $ 48 $ 42 52 34 30 Motorvehicles of Boston, Inc. , Income Statement Year Ended December 31, 2018 In thousands) 5 Service revenue Cost of goods sold Salary expense Depreciation expense 72 11 14 770 Cash Accounts receivable Inventory Prepaid expenses Plant assets. net Long-term investments Current: 16 Accounts payable 44 Salary payable 85 Accrued liabilities 10 Long-term note payable 180 78 Stockholders' Equity Common stock 11 60 58 390 228 80 60 40 39 120 46 244 230 Other expenses Total expenses 630 Retained eamings 413 Total $ 443 $ $ 443 $ Total 413 S 140 Net income Enter any number in the edit fields and then click Chac Print Done 1 1 part remaining Print Done Amazing Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $52,000 and its total current liabilities totaling $31,000. At the end of the year, these same current assets totaled $50,000, while its total current liabilities totaled $22,000. Net income for the year was $87,000. Included in net income were a $4,000 loss on the sale of land and depreciation expense of $8,000. Show how Amazing should report cash flows from operating activities for 2018. The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities: Net income 87,000 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation $ 8,000 Loss on sale of land 4,000 Decrease in accounts receivable, inventory, and prepaid expenses Decrease in current liabilities 4000 10000 Net cash provided by (used for) operating activities 97000