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1. LeRoy Inc. has the following information from its Comparative Balance Sheet: LeRoy Travel Services Comparative Balance Sheet December 31, 2018 and 2017 2018 2017
1. LeRoy Inc. has the following information from its Comparative Balance Sheet: LeRoy Travel Services Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets Cash Accounts Receivable Inventory Prepaid Insurance Total Current Assets $45,000 $12,000 75,000 81,000 59,000 19,000 14,000 17,000 $193,000 $129,000 $101,000 $117,000 76,000 56,000 (19,000) (14,000) $351,000 $288,000 Land Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Wages Payable Interest Payable Income Taxes Payable Total Current Liabilities $25,000 32,000 14,000 12,000 $83,000 $32,000 21,000 12,000 10,000 $75,000 Notes Payable (Long term) 98,000 88,000 $181,000 $163,000 Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity $125,000 $115,000 45,000 10,000 $170,000 $125,000 Total Liabilities and Total Stockholders' Equity 351,000 288,000 Please read next page for the additional information. The following information is taken from the records of LeRoy Travel Services, Inc: a. C. Land was sold for $13,000 b. Equipment was purchased for cash There were no disposal of equipment during the year d. The Common Stock was issued for cash. e. Net Income for 2018 was $40,000. f. Cash dividends paid during the year were $5,000 Required Please prepare the cash flows from operating activities according to the indirect method, then prepare investing, and financing activities sections for LeRoy Travel Services
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