The Statement of Cash Fl %-41B Preparingthe statement of cash flow-indirect method with Learning Objective2 non-cash transactions he 2018 income statement anud comparaive balance sheet of Swcet Valley, Inc The follow 1. Net Cash Prox. by Op Act. $136,300 SWEET VALLEY, INC income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses 445,000 203,200 241,800 R' ran Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses 77,400 14,500 10,100 102.000 139,800 Operating income Other Income and (Expenses) Interest Revenue interest Expense Total Other Income and (Expenses) 8,200 (21,100) Net Income Before Income Taxes Income Tax Expense (12,900) 126,900 19,400 107.500 16 SWEET VALLEY, INC Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets s 26,300 15,400 25,100 91,300 Current Assets Cash Accounts Receivable Merchandise Inventory 26,400 79,300 15,790 1400 115,790 108,330v Long-term Assets 34,900 Land Plant Assets Accumulated Depreciation-Plant Assets (19,890) 18,630 $ 262,800 235,500 Total Assets Liabilities Current Liabilities: s 35,600 30,100s Accounts Payable Accrued Liabilities 28,900 30,800 Long-term Liabilities 78,000 142,500 Notes Payable 105,000 Total Liabilities 165,900 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 64,800 4,800 69,600 $ 262,800 S235,500 88,200 32,100 120,300 Additionally, sweet Valley purchased land of S20 900 by financing it 100% with 10 g term notes payable during 2018. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposeco for $0. The cost and the accumulated depreciation of the disposed asset was Plant asset was acquired for cash. 13,240 Requirements 1. Prepare the 2018 statement of cash flows, formatting operating activities indirect method. 2. How will what you learned in this problem help you evaluate an investment