Prepare the statement of cash flows (indirect method) for Travel Services, Inc., for .

The comparative balance sheet for Seaway Travel Services, Inc., for December 31, 2017 and 2016, is as follows: E (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Seaway Travel Services, Inc.: i (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Seaway Travel Services, Inc., for 2017. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted and decreases in cash.) Seaway Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities A B B 1 1 Seaway Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 N 3 4 Assets 2017 2016 5 Current assets: 6 Cash $ 40,000 $ 16,000 81,000 86,000 7 Accounts receivable 8 Inventory 57,000 19,000 9 Prepaid insurance 9,000 14,000 10 Total current assets $ 187,000 $ 135,000 11 12 Land $ 107,000 $ 116,000 13 Equipment 78,000 60,000 14 Less: Accumulated depreciation (17,000) (12,000) 15 Total assets $ 355,000 $ 299,000 Liabilities Current liabilities: Accounts payable $ 29,000 $ 31,000 34,000 24,000 Wages payable Interest payable Income taxes payable 13,000 11,000 6,000 4,000 Total current liabilities $ 82,000 $ 70,000 97,000 90,000 Notes payable (long-term) Total liabilities $ 179,000 $ 160,000 Stockholders' equity Common stock $ 136,000 $ 121,000 Retained earnings 40,000 18,000 Total stockholders' equity $ 176,000 $ 139,000 Total liabilities and equity $ 355,000 $ 299,000 Transactions a. Land was sold for $5,900. b. Equipment was purchased for cash. C. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. Net income for 2017 was $31,000. f. Cash dividends paid during the year were $9,000