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, 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. Requirement 1. Prepare Newton'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 financing activities. (Use parentheses or a minus sign for numbers to subtracted and for a net decrease in cash.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Choose from any liat or enter any number in the input fields and then click check Anwar More Info Data Table X The income statement and addit (Click the icon to view the in Requirements 1. Prepare Newton's statemen 2. Evaluate the company's cas bt Al Newton Travel Products, Inc. Requirement 1. Prepare Newto Income Statement Year Ended December 31, 2018 , Additional data: a. Acquisition of plant assets was $142,000. Of this amount, $99,000 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 $36,000. d. Payment of a long-term note payable was $11,000 e. Payment of dividends was $10,000. f. From the balance sheets: Start by completing the cash flow subtracted and for a net decreas Revenues: minus sign for numbers to Service revenue $ 235,000 9,000 $ 244,000 December 31. Stat 2018 2017 99,000 Current assets: Cash flows from operating a Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 57.000 Cash $ 75,000 $ 13,200 61,000 Accounts receivable 50,000 Adjustments to reconcilen net cash provided by (used 25,000 2.900 60,000 59,000 Inventory Prepaid expenses 9,100 2,700 6,000 8,500 Income tax expense 192,600 $ 51,400 Net income Current liabilities: Choose from any list or enter a Print Done Print Done 4 parts remaining Check Answer 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, 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. Requirement 1. Prepare Newton'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 financing activities. (Use parentheses or a minus sign for numbers to subtracted and for a net decrease in cash.) Newton Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Choose from any liat or enter any number in the input fields and then click check Anwar More Info Data Table X The income statement and addit (Click the icon to view the in Requirements 1. Prepare Newton's statemen 2. Evaluate the company's cas bt Al Newton Travel Products, Inc. Requirement 1. Prepare Newto Income Statement Year Ended December 31, 2018 , Additional data: a. Acquisition of plant assets was $142,000. Of this amount, $99,000 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 $36,000. d. Payment of a long-term note payable was $11,000 e. Payment of dividends was $10,000. f. From the balance sheets: Start by completing the cash flow subtracted and for a net decreas Revenues: minus sign for numbers to Service revenue $ 235,000 9,000 $ 244,000 December 31. Stat 2018 2017 99,000 Current assets: Cash flows from operating a Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense 57.000 Cash $ 75,000 $ 13,200 61,000 Accounts receivable 50,000 Adjustments to reconcilen net cash provided by (used 25,000 2.900 60,000 59,000 Inventory Prepaid expenses 9,100 2,700 6,000 8,500 Income tax expense 192,600 $ 51,400 Net income Current liabilities: Choose from any list or enter a Print Done Print Done 4 parts remaining Check