True North Media Corporation had the following income statement and balance sheet for 2018: (Click the icon to view the income statement.) [Ff (Click the icon to view the balance sheet.) During the year True North issued a $4,500 note payable. True North acquired equipment worth $16,000, and made payments on the long-term notes payable in the amount of $11,500 during the year. Assume the company paid cash for the acquisition of plant assets. Prepare True North Media's statement of cash flows-indirect method-for the year ended December 31, 2018. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) True North Media Corporation i Data Table X Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: True North Media Corporation Net Income $ 16,000 Income Statement Adjustments to Reconcile Net Income to Year Ended December 31, 2018 Net Cash Provided by Operating Activities: Sales Revenue $ 77,000 Depreciation Expense $ 6,000 Depreciation Expense-Plant Assets 6,000 Increase in Accounts Receivable (3,000) Other Expenses 55,000 Increase in Accounts Payable 3,500 Net Income $ 16,000 6,500 Net Cash Provided by (Used for) Operating Activities 22,500 Print Done Cash Flows from Investing Activities: Acquisition of Equipment (16,000)True North Media Corporation had the following income statement and balance sheet for 2018: (Click the icon to view the income statement.) Eff (Click the icon to view the balance sheet.) During the year True North issued a $4,500 note payable. True North acquired equipment worth $16,000, and made payments on the lor cash acquisition of plant assets. True North Media Corporation Comparative Balance Sheet Prepare True North Media's statement of cash flows-indirect method-for the year ended December 31, 2018. December 31, 2018 and 2017 Depreciation Expense $ 6,000 Assets 2018 2017 Increase in Accounts Receivable (3,000) Current Assets: Increase in Accounts Payable 3,500 Cash $ 5,400 $ 4, 100 Accounts Receivable 8,600 5,600 6,500 Long-term Assets: Net Cash Provided by (Used for) Operating Activities 22,500 Plants Assets 101,350 85,350 Cash Flows from Investing Activities: Accumulated Depreciation-Plant Assets (22,350) (16,350) Acquisition of Equipment (16,000) Total Assets $ 93,000 $ 78,700 Liabilities (16,000) Current Liabilities: Net Cash Provided by (Used for) Investing Activities Accounts Payable $ 9,000 $ 5,500 Cash Flows from Financing Activities: Cash Receipt from Issuance of Common Stock 8,000 Long-term Liabilities: 8.000 15,000 Payment of Note Payable (4500) Notes Payable Payment of Cash Dividends Total Liabilities 17,000 20,500 Stockholders' Equity Common Stock, no par 28,000 20,000 Net Cash Provided by (Used for) Financing Activities Print Done