III Homework: Chapter 11 Graded Homework Question 6, E11-19A (similar to) Part 1 of 5 HW Score: 79.53%, 19.88 of 25 points O Points: 0 of 5 Save The income statement and additional data of Newton Travel Products, Inc., follow (Click the icon to view the income statement) Click the icon to view the additional data.) Requirements 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the Indirect method 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 Requirement 1. Prepare Newton's statement of cash flows for the year ended December 31, 2018, using the indirect method Clear all Check answer Get more help Help me solve this Demodocs example 2. Data table C Year Ended December 31, 2018 Revenues: Service revenue $ 239,000 8,700 $ 247,700 Dividend revenue th Expenses: Cost of goods sold 94,000 bd. uc Print Done all ata table Salary expense 54,000 Depreciation expense 35,000 Advertising expense 4,500 Interest expense 1,900 Income tax expense 16,000 205,400 $ 42,300 Not income Print Done - More info Additional data: a. Acquisition of plant assets was $152,000. Of this amount, $102,000 was paid in cash and $50,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $79,000. c. Proceeds from the issuance of common stock totaled $47,000. d. Payment of a long-term note payable was $14,000. Daumant of dividondo minn 17.000 Print Done % - More info December 31, 2018 2017 Current assets: Cash $ $ 36,100 at Accounts receivable 125,000 47,000 29.000 61,000 Inventory 73.000 At Print Done - X More info 29,000 73,000 Inventory Prepaid expenses 9,800 8,400 Current liabilities: Accounts payat Accrued liabilities $ 37,000 $ 25,000 18,000 68,000 Print Done More info P~~~~ b. Proceeds from the sale of land totaled $79,000. c. Proceeds from the issuance of common stock totaled $47,000. d. Payment of a long-term note payable was $14,000. e. Payment of dividends was $17,000. f. From the balance sheets: I December 31, C Print Done