The comparative balance sheet of Smithson Educational Supply at December? 31, 2016?, reported the? following:

The comparative balance sheet of Smithson Educational Supply at December 31. 2016. reported the following: EEB (Click the icon to view the comparative balance sheet.) mithson's transactions during 2016 included the followin (Click the icon to view the transactions.) Re Prepare the statement of cash flows of Smithson Educational Supply for the year ended December 31, 2018. Use the indirect d to report cash flows from operating activities. (Use parentheses or a min h for numbers to be subtracted lf a box is not used in the statement, leave the box empty: 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. Smithson Educational Supply Statement of Cash Flows Year Ended December 31, 2016 Data Table Cash Flows from Operating Activities: 2016 2015 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Current Assets Cash Accounts Receivable Merchandise Inventory S 99,300 S 23,500 22,100 58,800 14,500 63,400 Current Liabilities: Accounts Payable S 31,600 S 28,600 1,300 Accrued Liabilities 10,300 PrintDone Net Cash Provided by (Used for) Operating Activities 2616 Requirements More In 1. Prepare the statement of cash flows of Smithson Educational Supply for the Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash S14,200 Depreciation expense S 16,800 98.000 61,600 year ended December 31, 2016. Use the indirect method to report cash flows 54,400 Purchase of building with cash 48,000 Net income 111,000 operating activities 2. Evaluate Smithson's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Smithson plans similar activity for 2017, what is its expected free cash flow? Print Done PrintDone