The comparative balance sheet for Desmond Isle Travel Services, Inc., for December 31, 2017 and 2016, is as follows: (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Desmond Isle Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Desmond Isle Travel Services, Inc., for 2017 Desmond Isle 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 Choose from any list or enter any number in the input fields and then click Check Answer. 3 parts remaining Clear All nd Isle Travels B 1 2 -mond Isle Tray es, Inc. Section (Indird -31, 2017 Desmond Isle Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 3 4 Assets 2017 2016 5 Current assets: ] 6 Cash 7 Accounts receivable 8 Inventory 9 Prepaid insurance 10 Total current assets $ 45,000 $ 16,000 82,000 87,000 57,000 21,000 8,000 10,000 $ 192,000 $ 134.000 11 12 Land 13 Equipment 14 Less: Accumulated depreciation $ 103,000 $ 120,000 83,000 59,000 (20,000) (13,000) $ 358,000 $ 300,000 15 Total assets 16 17 Liabilities elds and then cll Print Done s, Inc., for D Balance Sheet - Isle Travel S 16 nd Isle Tray 17 Liabilities Inc. ction (Indir 2017 18 Current liabilities: 19 Accounts payable 20 Wages payablo 21 Interest payable 22 Income taxes payable 23 Total current liabilities $ 30,000 $ 33,000 30,000 21,000 15,000 14,000 11,000 8,000 $ 86,000 $ 76,000 24 25 Notes payable (long term) 26 Total liabilities 99,000 92,000 $ 185,000 $ 168,000 28 Stockholders' equity 29 Common stock 30 Retained earnings 31 Total stockholders' equity 32 $ 140,000 $ 123,000 33,000 9,000 $ 173,000 $ 132,000 33 Total liabilities and equity $ 358,000 $ 300,000 and then cli Print Done Meth Transactions a. Land was sold for $13,700. 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 $35,000. f. Cash dividends paid during the year were $11,000. Print Done