x The income statement and additional data of Norton Travel Products, Inc., follow: Data E (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Requirements 1. Prepare Norton's statement of cash flows for the year ended December 31, 2020, using the indirect method. 2. Evaluate Norton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation Additional data a. Acquisition of plant assets was $209,524. Of this amount, $167,619 was paid in cash and $41,905 by signing a note payable. b. Proceeds from sale of land totalled $24,095. c. Proceeds from issuance of common share totalled $62,857. d. Payment of long-term note payable was $13,619. e. Payment of dividends was $10,476. Requirement 1. Prepare Norton's statement of cash flows for the y - X Income Statement inves Jarer Start by completing the cash flows from operating activities. Then minus sign for numbers to be subtracted and for negative and f. From the balance sheet: Norton Travel Products, Inc. Norton Travel Products, Inc. December 31, Statement of Cash Flows Income Statement 2020 2019 Year Ended December 31, 2020 Year Ended December 31, 2020 Cash flows from operating activities: Current Assets: Revenues Cash $ 157,143 $ 145,513 Service revenue $ 296,476 Adjustments to reconcile net income to Accounts receivable 9,114 46,095 59,714 Dividend revenue $ 305,590 net cash provided by used for) operating activities: Inventory 108,952 75,429 Expenses Prepaid expenses 9,952 8,695 Cost of goods sold 100,571 Current Liabilities: Salary expense 56,571 Accounts payable $ 39,810 $ 24,095 Depreciation expense 28,286 Accrued liabilities 11,524 25,143 Advertising expense 4,505 Interest expense 2,200 Choose from any list or enter any number in the input fields and Income tax expense 6,286 198,419 Print Done $ 107,171 Net income