The 2018 income statement and comparative balance sheet of All Wired, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) (Click the icon to view the additional information.) Read the requirements. Requirement 1. Prepare the 2018 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.) 0 Requirements Complete the statement one section at a time, beginning with the cash flows from operating activities. All Wired, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. 2. How will what you learned in this problem help you evaluate an investment? Print Done 6 More Info Net Cash Provided by (Used for) Operating Activities Additionally, All Wired purchased land of $25.200 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $11,570. The plant acquisition was for cash. Print Done All Wired, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 434,000 Cost of Goods Sold 206,200 Gross Profit 227,800 Operating Expenses: Salaries Expense $ 71,400 Depreciation Expense- Plant Assets 14,700 Other Operating Expenses 10,500 Total Operating Expenses 96,600 Operating Income 131,200 Other Income and (Expenses): Interest Revenue 8,200 Interest Expense (21,000) Total Other Income and (Expenses) (12,800) Net Income Before Income Taxes 118,400 Income Tax Expense 19,800 Net Income $ 98,600 2018 2017 15,600 25,200 91,600 10,000 112,330 (18,630) 236,100 All Wired, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 Assets Current Assets: Cash 26,600 $ Accounts Receivable 26,400 Merchandise Inventory 79,000 Long-term Assets: Land 35,200 Plant Assets 117,660 Accumulated Depreciation- Plant Assets (21,760) Total Assets $ 263,100 $ Liabilities Current Liabilities: Accounts Payable 35,100 $ Accrued Liabilities 28,200 Long-term Liabilities: Notes Payable 76,000 Total Liabilities 139,300 Stockholders' Equity Common Stock, no par 88,000 Retained Earnings 35,800 Total Stockholders' Equity 123,800 Total Liabilities and Stockholders' to $ 263,100 $ Equity $ 30,500 31,000 107,000 168,500 65,000 2,600 67,600 236,100