1 Data Table June 30, 2018 2017 Current assets: Cash and cash equivalents $ 52,600 $ 16,500 Accounts receivable 14,300 22,300 Inventories 63,900 60,400 2,900 9,000 Prepaid expenses Current liabilities: $ 58,200 $ 55,900 Accounts payable Accrued liabilities 47,000 37,000 Income tax payable 9,800 10,900 Print Done i More Info Proceeds from sale of long- 109,000 term investment $ 15,900 15,200 Acquisition of land by issuing note payable Amortization expense. Payment of cash dividend Cash purchase of equipment. Issuance of long-term note 4,400 Depreciation expense 26,000 Cash purchase of building 46,000 Net income 56,000 78,200 Issuance of common stock for cash 24,000 payable to borrow cash 49,000 Stock dividend 8,000 Print Done 1. Prepare Medford Movie Theater Company's statement of cash flows for the year ended June 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. 2. Evaluate Medford's cash flows for the year. Mention all three categories of cash flows, and give the rationale for your evaluation. Requirement 2. Evaluate Medford's cash flows for the year. Mention all three categories of cash flows, and give the rationale for your evaluation. Medford Movie Theater Company's cash flows look are the main source of cash. Medford Movie Theater generated a cash flow from investing activities largely due to the of equipment and a building. It generally bodes for the future when a company invests in new capital assets. Medford Movie Theater generated a cash flow from financing activities. These financing activities indicate that the Medford Movie Theater credit-worthy to be able to issue long-term notes. We also see that the company has funds to pay cash dividends