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The income statement and additional data of Newton Travel Products, Inc., follow: (Click the icon to view the income statement.) i (Click the icon
The income statement and additional data of Newton Travel Products, Inc., follow: (Click the icon to view the income statement.) i (Click the icon to view the additional data.) Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2021, 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 Newton's statement of cash flows for the year ended December 31, 2021, 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.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2021 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 my instructor Data table Newton Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues: Service revenue $ 245,000 9,000 Dividend revenue $ 254,000 Expenses: Cost of goods sold 100,000 Salary expense 57,000 Depreciation expense 21,000 Advertising expense 3,000 Interest expense 2,200 12,000 195,200 Income tax expense 58,800 Net income wer
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