Score: 0 of 5 pts 6 of 109 completel E11-19A (similar to) HW Score: 64.67%, 16.17 Question Help The income statement and additional data of Norman Travel Products, Inc., follow mclick the icon to view the income statement) (Click the icon to view the additional data.) Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, marion altre categories of cash fows and give the rationale for your evaluation Requirement 1. Prepare Norman's statement of cash fows for the year ended December 31, 2018, using the indirect method Start by completing the cash flows from operating activities. The completo each section of the statement of cash flows, induding the noncuh investing and financing activities. (Use parentheses or minus sign for numbers to be subtracted for a net decrease in cash) Norman Travel Products, Inc. Statement of Cash Flows (indirect Method) Year Ended December 31, 2018 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 Choose from any list or enter any number in the input fields and then click Check Answer Clear All Check Answer parts remaining MacBook Air 30 Sad $ 4 % 5 & 7 3 6 0 00 Homework: Chapter 11 Graded Homework Score: 0 of 5 pts 6 of E11-19A (similar to) The income statement and additional data of Norman Travel Products, Inc., follow: Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Norman's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and Requirement 1. Prepare Norman's statement of cash flows for the year ended December 31, 2018, using the indirect Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, for a net decrease in cash.) Norman Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 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 Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All MacBook AS esc al data.) 0 Data Table Norman Travel Products, Inc. Income Statement Incing activ Year Ended December 31, 2018 Revenues: Service revenue $ 279,000 8,600 $ 287,600 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 99,000 58,000 27,000 3,500 2,700 9,000 Income tax expense 199,200 Net income $ 88,400 Print Done ck Check Answer Clear All 6 of 10 (9 complete) * More Info id ch activities Additional data: a. Acquisition of plant assets was $222,000. Of this amount, $180,000 was paid in cash and $42,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. c. Proceeds from the issuance of common stock totaled $60,000. d. Payment of a long-term note payable was $12,000. e. Payment of dividends was $16,000. f. From the balance sheets: December 31, 2018 2017 $ $ Current assets: Cash Accounts receivable Inventory Prepaid expenses 150,000 41,000 94,000 9,200 91,400 53,000 84,000 8,400 Current liabilities: Accounts payable Accrued liabilities $ $ 30,000 82.000 13,000 57,000 click Print Done Clear All