The income statement and additional data of Newton Travel Products, Inc., follow: B (Click the icon to view the income statement.) (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. 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: Net income $ 51,800 Adjustments to reconcile net income to net cash provided by used for) operating activities: Depreciation $ 27,000 Decrease in accounts receivable 11,000 36,000 Decrease in inventory Increase in prepaid expenses Increase in accounts payable 13,000 Decrease in accrued liabilities Net cash provided by (used for) operating activities - More info Data table Newton Travel Products, Inc. Income Statement Year Ended December 31, 2021 Revenues Additional data: a. Acquisition of plant assets was $135,000. Of this amount, $105,000 was paid in cash and $30,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $59,000. c. Proceeds from the issuance of common stock totaled $35,000. d. Payment of a long-term note payable was $11,000. e. Payment of dividends was $16,000. f. From the balance sheets: Service revenue $ 239,000 8,100 $ 247,100 Dividend revenue Expenses: Cost of goods sold December 31, 2021 2020 98,000 58,000 27,000 Salary expense Depreciation expense Advertising expense Current assets: Cash $ 34.000 $ 16,100 3,000 Accounts receivable expense 3,300 6,000 47,000 33,000 58,000 69,000 Income tax expense 195,300 Inventory Prepaid expenses 10,000 8,100 51,800 Net income Current liabilities: Current liabilities: Accounts payable Accrued liabilities $ 33,000 18,000 $ 20,000 99,000