E Homework: Ch 11 - #3 Question 1, P11-60A (si... 1( HW Score: 0%, 0 of 10 points O Points: 0 of 5 Save Part 1 of 7 The comparative balance sheets of Medford Movie Theater Company at November 30, 2018 and 2017 reported the following: (Click the icon to view the balance sheets.) Medford's transactions during the year ended November 30, 2018, included: (Click the icon to view the transaction data.) Read the requirements CS Requirement 1. Prepare Medford Movie Theater Company's statement of cash flows for the year ended November 30, 2018, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. Start by completing the cash flows from operating activities. Then complete the remaining statement of cash flows and the accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) - X Data table Medford Movie Theater Company Statement of Cash Flows (Indirect Method) Year Ended November 30, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities Depreciation expense Decrease in accounts receivable Increase in inventories Increase in accounts payable November 30, 2018 2017 $ 10,900 $ Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income tax payable 14,700 63,900 15.400 17,200 22,200 60,300 1,700 $ 57,900 $ 24.100 10,000 56,200 17,100 11,000 Net cash provided by (used for) operating activities - X More info Print Done X Requirements Acquisition of land by issuing note payable Amortization expense Payment of cash dividend .... Cash purchase of equipment. Issuance of long-term note - payable to borrow cash Proceeds from sale of long- $ 100,000 term investment .... $ 15.900 4,300 Depreciation expense 15.000 32,000 Cash purchase of building 46.000 Net income 52.000 78,400 Issuance of common stock for cash 18,000 1. Prepare Medford Movie Theater Company's statement of cash flows for the year ended November 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. 47,000 Stock dividend 13,000 Print Done Print Done