The comparative balance sheet of Carlson Education Supply at December 31, 2018, reported the following

Requirements:

1.) Prepare the statement of cash flows of Carlson Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities.

2. ) Evaluate Carlson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation.

3.) If Carlson plans similar activity for 2019, what is its expected free cash flow?

Click the icon to view the comparative balance sheet.) Carlson's transactions during 2018 included the following click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Carlson Educational Supply for the year ended December 31, 2018. Use the indirect method to rep cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box em 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. Carlson Educational Supply 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 Net Cash Provided by (Used for) Operating Activities 2018 2017 Current Assets: Cash Accounts Receivable Merchandise Inventory $ 85,000 $ 18,000 14,400 21,100 3900 59,200 Current Liabilities: Accounts Payable Accrued Liabilities 0,600 29,600 10,900 11,900 Payment of cash dividends $ 17,200 107,000 65,600 $ 23,200 Depreciation expense Purchase of equipment with cash Issuance of long-term notes payable to borrow cash ssuance of common stock for cash 54,600 54,000 113,000 Purchase of building with cash Net income 1 Requirements 1. Prepare the statement of cash flows of Carlson Educational Supply for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. 2. Evaluate Carlson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Carlson plans similar activity for 2019, what is its expected free cash flow