The comparative balance sheets of Loop Movie Theater Company at November 30, 2018 and 2017, reported the following: Click the icon to view the balance sheets.) Loop's transactions during the year ended November 30, 2018, included: Click the icon to view the transaction data) Read the requirements Requirement 1. Prepare Loop Movie Theater Company's statement of cash flows for the year ended November 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. Start by completing the cash flows from operating activities. Then complete the remaining statement of cash flows and the accompanying schedule of noncash Investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash) Loop Movie Theater Company Statement of Cash Flows Indirect Method) Year Ended November 30, 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 Cash flows from investing activities Net cash provided by used for investing activities Cash flows from financing activities Cash flows from Investing activities: Net cash provided by used for) investing activities Cash flows from financing activities: Net cash provided by used for) financing activities Net Increase (decrease in cash Noncash investing and financing activities: Requirement 2. Evolunte Loop's cash flows for the year. Mention all three categories of cash flows, and give the rationale for your evaluation Loop Movie Theater Company's cash flows look are the main source of cash Loop Movie Theater generated a cash flow from investing activities largely due to the of equipment and a bulding. I generally bodas for the future when a company invests in new capital assets Loop Movie Theater generated a cash flow from financing activities. These financing activities indicate that the Loop Movie Theater credit worthy to be able to issue long-term notes. We also see that the company has unds to pay the dividends Data Table November 30, 2018 2017 Current assets: $ 47,500 $ 14,100 17,000 21,300 61,200 1,600 63,000 13,400 Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income tax payable $ 57,100 $ 66,700 55,300 46,700 10,700 15,700 Print Done Tows look are the main source of cash. cash flow from investing activities largely due to the in new capital assets. of equipment and a bu cash flow from financing activities. These financing activities indicate that the Loop Mo Proceeds from sale of long- --- $ 12,300 15,600 ... Acquisition of land by issuing note payable Amortization expense. Payment of cash dividend Cash purchase of equipment. Issuance of long-term note payable to borrow cash 59,000 $ 104,000 term investment 4,300 Depreciation expense 25,000 Cash purchase of building Net income 59,100 Issuance of common stock for cash 49,000 Stock dividend 56,000 16,000 15,000 Print Done Requirements 1. Prepare Loop Movie Theater Company's statement of cash flows for the year ended November 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. 2. Evaluate Loop's cash flows for the year. Mention all three categories of cash flows and give the rationale for your evaluation