The income statement and additional data of Breen Travel Products, Inc., follow: Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen'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 $ 26,300 Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by used for) operating activities: Depreciation Decrease in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Increase in accrued liabilities Net cash provided by (used for) operating activities Cash flows from investing activities: Net income $ 36,000 17,000 19,000 (1.100) 16,000 20,000 106,900 133,200 26300 Net cash provided by (used for) investing activities More Info Additional data: a. Acquisition of plant assets was $180,000. Of this amount, $140,000 was paid in cash and $40,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $34,000. c. Proceeds from the issuance of common stock totaled $35,000. d. Payment of a long-term note payable was $17,000. e. Payment of dividends was $11,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash S 165,000 $ 130,800 60,000 43,000 Accounts receivable Inventory Prepaid expenses 50,000 69,000 9,800 8,700 Current liabilities: Accounts payable $ $ 21,000 37,000 99,000 Accrued liabilities 79,000 Data Table Breen Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 245,000 8,400 $ 253,400 Dividend revenue Expenses: Cost of goods sold 98,000 78,000 Salary expense Depreciation expense Advertising expense 36,000 4,200 Interest expense 3,900 7,000 Income tax expense 227,100 Net income $ 26,300 Please help with second part of requirement. Thank you The income statement and additional data of Breen Travel Products, Inc., follow: Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen'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 $ 26,300 Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by used for) operating activities: Depreciation Decrease in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Increase in accrued liabilities Net cash provided by (used for) operating activities Cash flows from investing activities: Net income $ 36,000 17,000 19,000 (1.100) 16,000 20,000 106,900 133,200 26300 Net cash provided by (used for) investing activities More Info Additional data: a. Acquisition of plant assets was $180,000. Of this amount, $140,000 was paid in cash and $40,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $34,000. c. Proceeds from the issuance of common stock totaled $35,000. d. Payment of a long-term note payable was $17,000. e. Payment of dividends was $11,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash S 165,000 $ 130,800 60,000 43,000 Accounts receivable Inventory Prepaid expenses 50,000 69,000 9,800 8,700 Current liabilities: Accounts payable $ $ 21,000 37,000 99,000 Accrued liabilities 79,000 Data Table Breen Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenues: Service revenue $ 245,000 8,400 $ 253,400 Dividend revenue Expenses: Cost of goods sold 98,000 78,000 Salary expense Depreciation expense Advertising expense 36,000 4,200 Interest expense 3,900 7,000 Income tax expense 227,100 Net income $ 26,300 Please help with second part of requirement. Thank you