The income statement and additional data of Noel Travel Products, Inc., follow: Additional data: a..

 
   

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The income statement and additional data of Noel Travel Products, Inc., follow: Additional data: a. Acquisition of plant assets was $150,000. Of this amount, $100,000 was paid in cash and $50,000 by signing a note payable. b. Proceeds from sale of land totaled $24,000. c. Proceeds from issuance of common stock totaled $30,000. d. Payment of long-term note payable was $15,000. e. Payment of dividends was $11,000. f. From the balance sheet Required 1. Prepare Noel’s statement of cash flows for the year ended December 31, 20X6, using the indirect method. 2. Evaluate Noel’s cash flows for the year. In your evaluation, mention all 3 categories of cash flows and give the reason for your evaluation. View Solution:
The income statement and additional data of Noel Travel Products