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use the 2nd 3rd and 4th photos to fill in the blanks The income statement and additional data of Norcross. Travel Products, inc., follow: (Click
use the 2nd 3rd and 4th photos to fill in the blanks
The income statement and additional data of Norcross. Travel Products, inc., follow: (Click the koon to view the income statement) (i) (Click the icon to view the additional data.) Requirements 1. Prepare Norcross' statement of cash flows for the year ended December 31, 2021, using the indiroct method. 2. Evaluate the compamy's cash fows for the year, In your evaluation, mention all three calogories of cash flows and give the rationale for your evaluation. Acquisition of plant assets Decrease in accounts receivable Depreciation Increase in accounts payable Increase in accrued liabilities Increase in inventory Increase in prepaid expenses Net income Payment of dividends Payment of long-term note payable Proceeds from issuance of common stock Proceeds from sale of land Payment of dividends Net cash provided by (used for) operating activities Data table Additional data: a. Acquisition of plant assets was $193,000. Of this amount, $140,000 was paid in cash and $53,000 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 $35,000. d. Payment of a long-term note payable was $12,000. e. Payment of dividends was $17,000. f. From the balance sheets Step by Step Solution
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