This Test The income statement and additional data of Noel Tayl Products, Inc., follow (Click the icon to view the income statement) Click the loon to view the additional data) Requirements 1. Prepare Noel'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 flow and give the rationale for your evaluation Requirement 1. Prepare Noel's statement of cash Rows 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 (Une parentheses or a minus sign for numbers to and for a net decrease in cash) Noel Travel Products, Ine. 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 list or enter any number in the input fields and then continue to the next question MacBook Air esc O 888 FB & * # 3 $ 4 % 5 2 8 income statement and additional data of Noel Travel Products, Inc., foliow. on to view the More Info Data Table cember 31,21 Mion, mento ar ended Dec Acquisition of plant assets Decrease in accounts receivable Depreciation Increase in accounts payable Increase in accrued labities Increase in inventory Increase in prepaid expenses Not income Payment of dividends Payment of long-term note payable Proceeds from issuance of common stock Proceeds from soffand Additional data a. Acquisition of plants was $195,000 of this amount, $140,000 was paid in cash and $55,000 was financed by signing a note payable b. Proceeds from the sale of land totaled $48,000 c. Proceeds from the issuance of common stock totaled $28.000 d. Payment of a long-term note payable was $11,000 e Payment of dividends was $15.000 1. From the balance sheets: omplete eact lethod) Noel Travel Products, Inc. Income Statement Year Ended December 31, 2018 Revenue Service revenue $ 279,000 Dividend revenue 8.700 27.700 Expenses Cost of goods sold 99.000 Salary expense 51.000 Depreciation expense 27 000 Advertising expert 4600 Interest expense 2.400 11,000 205 000 Income tax expense 5 82.700 Net income December 31 2018 2017 5 $ 13 500 Adjustments to reconcine income to net cash provided by used for operating activities Current assets: Cash Accounts receivable Inventory Prepaid expenses 53 000 30.000 422000 80,000 9.200 49.000 9,000 Current abilities: Accounts payable Accruedas $ 37,000 $ 17.000 Print Done 85.000 79.000 Choose from any list or her any number in the routes and then conths Print Done MacBook Air ODO EVO % 5 2 3 4 & 7 6 8 9 T
