The income statement and additional data of Great Life, Inc., follow: B (Click the icon to view the income statement. (Click the icon to view the additional data) Read the requirements Requirement 1. Prepare Great Life's statement of cash floss and accompanying schedule af rubricash investing and financing activities. Report operating activities using the direct inehad. Slart by completing the cash flows from operating activities. Then complele the rest of the stalernent of cash flows and accurnpartying schedule of noncash investing and financing activilies. Use parentheses or a minus sign for numbers to be subracted and for a ned decrease in cash.) Great Life, Inc. Statement of Cash Flows Direct Method) i Data Table i More Info Year Ended November 30, 2018 Cash flows from operating activities: Receipts: Additional dala Great Life, Inc. a. Collections from customers are $14.000 less than sales. Income Statement b. Payments to suppliers are $1,700 more than the suin of cost af gouus salu plus Year Ended November 30, 2018 advertising expense. Total cash receipts Revenues: c. Payments to employees are $1.000 more than salary expense. d. Didend revenue, Interest expense, and income tax expense equal their cash Payments: Sales revenue S 267,000 Dividend revenue 12.000 S 279,000 e. Acquisition of plant assets is $185.000 or this amount, $122,000 is paid in cash and $43,000 is financed by signing a long-term note payable. Expenses: f. Proceeds from the sale of land localed S27,000. Cost of goods sold 104.000 g. Procords from the issuance of common stack tatale $92,000. h. Payment of a long-tem note payable is $13,000. Salary expense 43,000 i. Payment of dividends is 38,000. Tolal cash payments Depreciation expense 25,000 1. Cash balance, November 30, 2017, was $36.00 Nnt cash provided by used for operating activities Adverlising expense 13,500 Interest expense 2,500 Priit Done Income tax expense 9,000 199,000 i Recuirements S $1,000 Net income Print Done 1. Prepare Great Life's statement picash fires and socampanying scharule of noncash investing and financing activities. Report operating ctivities using the direct rrethad. 2. Evaluate the company's cash flows for the year in your avaluaton, menton all the caingorias af cash flaws and givn the rationale for your evaluation Chd Print Done Clear All Check