The income statement and additional data of Tyler Travel Products, Inc., follow:

Additional data:
a. Acquisition of plant assets was $150,000. Of this amount, $95,000 was paid in cash and $55,000 by signing a note payable.
b. Proceeds from sale of land totaled $14,000.
c. Proceeds from issuance of common stock totaled $50,000.
d. Payment of a long-term note payable was $18,000.
e. Payment of dividends was $12,000.
f. From the balance sheets:

Requirements
1. Prepare Tyler€™s statement of cash flows for the year ended December 31, 2014, using the indirect method.
2. Evaluate Tyler€™s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for yourevaluation.

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Tyler Travel Products, Inc. Income Statement Year Ended December 31, 2014 Revenues Service revenue Dividend revenue $ 299,600 8,700 308,300 Expenses Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 108,000 44,000 21,000 4,300 2,100 19,500 198,900 Net income December 31 2014 2013 Current assets: 585,2001- 5 Cash Accounts receivable Inventory Prepaid expenses S 33,500 60,000 84,000 62,000 9,5008,300 44,000 Current liabilities: Accounts pavable Accrued liabilities S 38,000 $36,500 13,000 1,000