To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts: (Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet data.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Franklin Electric Company for the year ended December 31, 2018, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities. Start by completing the cash flows from operating activities using the direct method. Then complete the statement of cash flows and the accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Franklin Electric Company Statement of Cash Flows (Direct Method) Choose from any list or enter any number in the input fields and then continue to the next question. To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts: :: (Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow: :: (Click the icon to view the income statement.) A (Click the icon to view the balance sheet data.) Read the requirements. Year Ended December 31, 2018 Cash flows from operating activities: Receipts: 11 38 Total cash receipts Payments: | | 11 11 / Total cash payments Choose from any list or enter any number in the input fields and then continue to the next question. To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts: EE(Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet data.) Read the requirements. Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Choose from any list or enter any number in the input fields and then continue to the next question. 2 of 3 (0 complete) Data Table Beginning bal Sale of long-term investment Collections from customers Issuance of common stock Receipts of dividends Cash 54,000 Payments on accounts payable 21,500 Payments of dividends 661,400 Payments of salaries and wages 47,600 Payments of interest 16,900 Purchase of equipment Payments of other operating expenses Payment of long-term note payable Purchase of treasury stock Payment of income tax 66,900 402,000 30,000 136,300 25,600 31,300 34,800 41,400 16,100 17.000 Ending Bal Common Stock Beginning bal 14,400 Print Done To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts: BE(Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow (Click the icon to view the income statement.) (Click the icon to view the balance sheet data.) Read the requirements 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. To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts BSE (Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow (Click the icon to view the income statement.) (Click the icon to view the balance sheet data) Read the requirements. Net can provided by used torjninancing activibes Net increase (decrease) in cash Noncash investing and financing activities: Total noncash investing and financing activities Requirement 2. Use Franklin Electric's 2018 income statement and information from its selected balance sheet data to prepare a supplementary schedule of cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Franklin Electric Company Dartial Statement of Coch Elnure Indirect Method Choose from any list or enter any number in the input fields and then continue to the next question. To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2018 activity in two accounts: (Click the icon to view the transaction data.) Franklin Electric's 2018 income statement and balance sheet data follow B! (Click the icon to view the income statement.) ! (Click the icon to view the balance sheet data) Read the requirements. Franklin Electric Company Partial 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 operating activities: Choose from any list or enter any number in the input fields and then continue to the next question. 2013 (U complete) . . Data Table Issuance of common stock Receipts of dividends 47,600 16,900 Payments of interest Purchase of equipment Payments of other operating expenses Payment of long-term note payable Purchase of treasury stock Payment of income tax 25,600 31,300 34,800 41,400 16,100 17,000 Ending Bal 66,900 Common Stock Beginning bal Issuance for cash Issuance to acquire land Issuance to retire note payable Ending bal 14,400 47,600 80,800 18,000 160,800 Print Done Hmmmllim m illi i Data Table Franklin Electric Company Income Statement Year Ended December 31, 2018 Revenues: Sales revenue $ 645,100 16,900 Dividend revenue Total revenue 662,000 Expenses and losses: Cost of goods sold Cost of go 422,900 Salary and wage expense Depreciation expense Other operating expense 128,500 16,000 24,700 26,600 14,300 Interest expense Income tax expense i Data Table dat Reveries: Sales revenue $ 645,100 16,900 Dividend revenue Total revenue 662,000 Expenses and losses: Cost of goods sold Salary and wage expense Depreciation expense Other operating expense 422,900 128,500 16,000 24,700 26,600 14,300 1,000 Interest expense Income tax expense Loss on sale of investments Total expenses and losses 634,000 Net income $ 28,000 3 ai Print Done Data Table Franklin Electric Company Selected Balance Sheet Data December 31, 2018 Increase (Decrease) Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses 12,900 (16,300) (9,000) (500) 80,800 15,300 (22,500) 9 Land Equipment, net pment, net Long-term investments Current liabilities