The income statement and additional data of Four Season, Inc., follow (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Four Season, Inc.'s statement of cash flows and accompanying schedule of noncash investing and financing activities. Report operating activities by the direct method. 2. Evaluate Four Season's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation Four Season, Inc. Statement of Cash Flows (Direct Method) Year Ended April 30, 2016 Additional data: a. Colections from customers are $15,000 less than sales b. Payments to suppliers are $1,400 less than the sum of cost of goads sold plus Cash flows from operating activities Recelpis advertising expens c. Payments to employees are $1.700 less than salary expense. d. Dividend revenue, interest expense, and income tax expense equal their cash Collections from customers 257 Collection of dividend revenue 11,500 amounts e. Acquisition of plant assets is $2110DD. Of this amount, S$151,000 is paid in cash Total cash receipts 268500 and $60,000 by signing a long-tem note payable f. Proceeds from sale ot land total $27,000. g. Proceeds from issuance of common stock total $78,000 h. Payment of a long-term note payable is S14,000. i. Payment of dividends is $9,500 Payments: To suppliers To employees For income tax For interest $(110,600) (51700) (9,000) L Cash balanceApnl 30, 2015, was $27,000 Total cash payments 95100 Four Season, Inc. Income Statement Year Ended April 30, 2016 Net cash provided by (used for) operating activities Sales revenue S 242,000 Dividend revenue S 253,500 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 102,000 50,000 30.00D 0.000 2,100 9,000 203,100 S 50,400 Net income