The income statement and additional data of Bolton Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Bolton's statement of cash flows for the year ended December 31, 2021, 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. .. 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.) Bolton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2021 Cash flows from operating activities: Net income $ 64,500 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation $ 25,000 Decrease in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Net cash provided by (used for) operating activities Bolton Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues: : Service revenue $ 255,000 9,000 $ 264,000 Dividend revenue Expenses: Cost of goods sold 103,000 59,000 Salary expense Depreciation expense Advertising expense 25,000 2,900 Interest expense 2,600 7,000 Income tax expense 199,500 $ 64,500 Net income a. Additional data: Acquisition of plant assets was $131,000. Of this amount, $75,000 was paid in cash and $56,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $59,000. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $17,000. Payment of dividends was $12,000. f. From the balance sheets: C. e. December 31, 2021 2020 Current assets: $ $ Cash Accounts receivable Inventory Prepaid expenses 125,000 41,000 33,000 9,500 4,000 58,000 84,000 8,000 Current liabilities: Accounts payable Accrued liabilities $ $ 36,000 $ 16,000 57,000 14,000