The income statement and additional data of Newbury Travel Products, Inc., follow: (Click the icon to view the income statement.) A (Click the icon to view the additional data.) .) Requirements 1. Prepare Newbury'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. More info Additional data: a Acquisition of plant assets was $223,000. Of this amount, $180,000 was paid in cash and $43,000 was financed by signing a note payable b. Proceeds from the sale of land totaled $87,000. c. Proceeds from the issuance of common stock totaled $100,000. d. Payment of a long-term note payable was $21.000. e. Payment of dividends was $15,000. f. From the balance sheets: December 31, 2018 2017 $ 125,000 Current assets: Cash Accounts receivable Inventory $ 82,100 55,000 Requirement 1. Prepare Newbury'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 subtracted and for a net decrease in cash. Newbury Travel Products, Inc. Data table Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Newbury Travel Products, Inc. , Cash flows from operating activities: Income Statement Year Ended December 31, 2018 , Adjustments to reconcile net income to Revenues: net cash provided by used for) operating activities: Service revenue $ 280,000 8,200 Dividend revenue Expenses: Cost of goods sold 103,000 Salary expense 55,000 Depreciation expense 36,000 Advertising expense 2,900 Net cash provided by (used for) operating activities Interest expense 3,300 Income tax expense 6,000 Help me solve this Demodocs example Get more help $ Net incorno 34.000 89,000 10.000 90,000 8,900 Prepaid expenses Current liabilities: Accounts payable Accrued liabilities $ 30,000 $ 19,000 99,000 21,000 Print Done