the income stalement and addisional data of Noel Travel Products, Inc. tollow EB(Cick the icon to view the income satement) Click the loon to view the additional data 1. Prepare Noe's statement of cash Sows for the year ended December 31, 2016, using the indirect method 2. Evaluate Noels cash flows for the year In your evaluation, mention all three categories of cash fows and give the reason for your evaluation for a net decrease in cash Noal Travel Products, Inc Statement of Cash Flows Indirect Method Year Ended December 31, 2016 Cash flows from operating activities Adjustments to neconcile net income so net cash provided by (used for) operating actvisies Net cash provided by (used for) operating adtivties Choose from any list or enter any number in the inpuit fields and then click Check Answor 4 taring Clear All Check Answer V: h More Info Additional data: a. Acquisition of plant assets was $159,000. Of this amount, $105,000 re was paid in cash and $54,000 by signing a note payable. b. Proceeds from sale of land totaled $25,000. ac c. Proceeds from issuance of common stock totaled $47,000. d. Payment of long-term note payable was $12,000. e. Payment of dividends was $18,000. f. From the balance sheets: December 31, 2015 2016 Current assets: $ 34,000 16,500 59,000 72,000 8,600 Cash Accounts receivable Inventory Prepaid expenses 47,000 104,000 9,100 Current liabilities: Accounts payable Accrued liabilities $35,000 15,000 82,000 68,000 click Print Done Clear All i More Info Data Table Noel Travel Products, Inc. Income Statement Year Ended December 31, 2016 Revenues: $ 237,000 Service revenue 8,100 s 245,100 Dividend revenue Expenses: 99,000 61,000 36,000 4,400 2,700 11,000 214,100 Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense $ 31,000 Net income PrintDone lick Print Done Clear All