The income statement and additional data of Barnaby Travel Products, Inc., follow: E: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Barnaby's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. Requirement 1. Prepare Barnaby's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Barnaby Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Choose from any list or enter any number in the input fields and then click Check Answer. ncome stateme i Data Table nt of cash flow sh flows for the je the rationale for your evalua Barnaby Travel Products, Inc. Income Statement Year Ended December 31, 2018 by's statement thod. hcluding the noncash investing ws from opera neses or a min Revenues: Service revenue 236,000 8,500 $ 244,500 Barnaby T tement of Cas Year Ended Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense activities: 96,000 60,000 28,000 4,700 et income to Advertising expense for) operating Interest expense 2,800 14,000 205,500 Income tax expense $ 39,000 Net income any number in Print Done More Info ationale Additional data: a. Acquisition of plant assets was $156,000. Of this amount, $104,000 was paid in cash and $52,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $39,000. c. Proceeds from the issuance of common stock totaled $31,000. d. Payment of a long-term note payable was $16,000. e. Payment of dividends was $8,000. f. From the balance sheets: y the noi December 31, 2018 2017 Current assets: Cash $ 170,000 $ 33,200 Accounts receivable 47,000 30,000 63,000 72,000 Inventory Prepaid expenses 9,000 8,800 Current liabilities: Accounts pavable $ 34.000 $ 19.000 Print Print Done Done b. Proceeds from the sale of land totaled $39,000. c. Proceeds from the issuance of common stock totaled $31,000. d. Payment of a long-term note payable was $16,000. e. Payment of dividends was $8,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash $ Accounts receivable 170,000 47,000 30,000 33,200 63,000 72,000 8,800 Inventory Prepaid expenses 9,000 Current liabilities: Accounts payable Accrued liabilities $ $ 34,000 90,000 19,000 35,000 Print Done