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thanks! The income statement and additional data of Breen Travel Products, Inc., follow: it (Click con to view the income statement.) i) (Click the icon
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The income statement and additional data of Breen Travel Products, Inc., follow: it (Click con to view the income statement.) i) (Click the icon to view the additional data.) Requirements 1. Prepare Breen'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 giv Cash flows from investing activities: Cash flows from financing activities: \begin{tabular}{l} \hline Proceeds from issuance of common stock \\ \hline Payment of long-term note payable \\ \hline Payment of dividends \end{tabular} Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2017 Cash balance, December 31, 2018 Noncash investing and financing activities: Acquisition of plant assets by issuing a note payable Data table More info Additional data: a. Acquistion of plant assets was $203,000, Ot this amcunt, $160,000 was paid in cash and $43,000 was financed by signing a note payable. b. Proceeds from the sale of tand totaled \$45.000. c. Proceods from the issuanot of common stock totaled $100,000. d. Payment of a long-term note payable was $21,000. e. Payment of dividends was $18.000. t. From the balance sheets: The income statement and additional data of Breen Travel Products, Inc., follow: it (Click con to view the income statement.) i) (Click the icon to view the additional data.) Requirements 1. Prepare Breen'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 giv Cash flows from investing activities: Cash flows from financing activities: \begin{tabular}{l} \hline Proceeds from issuance of common stock \\ \hline Payment of long-term note payable \\ \hline Payment of dividends \end{tabular} Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2017 Cash balance, December 31, 2018 Noncash investing and financing activities: Acquisition of plant assets by issuing a note payable Data table More info Additional data: a. Acquistion of plant assets was $203,000, Ot this amcunt, $160,000 was paid in cash and $43,000 was financed by signing a note payable. b. Proceeds from the sale of tand totaled \$45.000. c. Proceods from the issuanot of common stock totaled $100,000. d. Payment of a long-term note payable was $21,000. e. Payment of dividends was $18.000. t. From the balance sheets Step by Step Solution
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