(Click the icon to view the additional data.) The income statement and additional data of Cobbs Hill, Inc., follow: (Click the icon to view the income statement.) Read the requirements. Statement of Cash Flows (Direct Method) Year Ended June 30, 2018 Cash flows from operating activities: Receipts: Total cash receipts Payments: More info Additional data: Total cash payments Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: a. Collections from customers are $16,000 less than sales. b. Payments to suppliers are $2,100 more than the sum of cost of goods sold plus advertising expense. c. Payments to employees are $2,300 more than salary expense. d. Dividend revenue, interest expense, and income tax expense equal their cash amounts. e. Acquisition of plant assets is $126,000. Of this amount, $100,000 is paid in cash and $26,000 is financed by signing a long-term note payable. f. Proceeds from the sale of land totaled $27,000. g. Proceeds from the issuance of common stock totaled $31,000. h. Payment of a long-term note payable is $17,000. i. Payment of dividends is $7,000. j. Cash balance, June 30, 2017, was $25,000. Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, June 30, 2017 Cash balance, June 30, 2018 Noncash investing and financing activities: Print Done Requirement 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation. are the main source of cash. The company invested new assets Cobbs Hill's cash flows look Data table Cobbs Hill, Inc. Income Statement Year Ended June 30, 2018 Revenues: Sales revenue $ 267,000 12,000 Dividend revenue $ 279,000 Expenses: Cost of goods sold 111,000 Salary expense 44.000 Depreciation expense 28,000 Advertising expense 10.000 Interest expense Income tax expense 1,500 11,000 205,500 $ 73,500 Net income Print Done . Cobbs Hill was able to All of these signs are