The income statement and additional data of Bolton Travel Products, Inc., follow: ck 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, 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 Bolton'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.) Bolton 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: Net cash provided by (used for) operating activities Data Table More Info Bolton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Additional data: a. Acquisition of plant assets was $129,000. Of this amount, $75,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $27,000. c. Proceeds from the issuance of common stock totaled $60,000. d. Payment of a long-term note payable was $15,000. e. Payment of dividends was $14,000. f. From the balance sheets: Revenues: Service revenue $ 235,000 8,300 $ Dividend revenue 243,300 Expenses: December 31, 101,000 Cost of goods sold Salary expense 2018 2017 Current assets: Depreciation expense Cash $ $ Advertising expense 63,000 35,000 3,500 3,900 12,000 Accounts receivable 165,000 39,000 48,000 9,200 33,300 54,000 87,000 Interest expense Inventory Income tax expense 218,400 Prepaid expenses 8,000 21000 The income statement and additional data of Bolton Travel Products, Inc., follow: ck 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, 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 Bolton'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.) Bolton 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: Net cash provided by (used for) operating activities Data Table More Info Bolton Travel Products, Inc. Income Statement Year Ended December 31, 2018 Additional data: a. Acquisition of plant assets was $129,000. Of this amount, $75,000 was paid in cash and $54,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $27,000. c. Proceeds from the issuance of common stock totaled $60,000. d. Payment of a long-term note payable was $15,000. e. Payment of dividends was $14,000. f. From the balance sheets: Revenues: Service revenue $ 235,000 8,300 $ Dividend revenue 243,300 Expenses: December 31, 101,000 Cost of goods sold Salary expense 2018 2017 Current assets: Depreciation expense Cash $ $ Advertising expense 63,000 35,000 3,500 3,900 12,000 Accounts receivable 165,000 39,000 48,000 9,200 33,300 54,000 87,000 Interest expense Inventory Income tax expense 218,400 Prepaid expenses 8,000 21000