The comparative balance sheet for Desmond sle Travel Services, Inc., for December 31, 2017 and 2016, S 6S follows: Balance Sheet (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 dats.) Desmond Isle Travel Services, Inc, uses the indirect method for preparing the statement of cash flows Prepare the operating section of the statement of cash flows for 2017 Desmond Isle Travel Services, Inc Comparative Balance Sheets December 31, 2017 and 2016 Assets Desmond Isle Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Mathod) For the Year Ended December 31, 2017 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid insurance Operating Activities: Net income 45,000 S 19,000 82,000 84,000 55,000 21,000 14,000 S 191,000 130,000 S 39 000 Adjustments to reconcile net income to cash basis Transactions 9.000 Loss on sale of land Decrease in accounts receivable Increase in invantory Decrease in prepaid insurance Decrease in accounts payable Increase in wages payable Increase in intarest payabla Increase in income taxes payable Total cunrent assets a. Land was sold for $5.400 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 $39,000 f. Cash dividends paid during the year were $9,000 Land Equipment Less-Accumulated depreciation Total assets S 107,000 $ 116,000 78,000 60,000 (21,000) 15000) S 355,000 299,000 Print Done Net cash provided by (used for) oparating activities Current Fabilities Accounts payable Wages payable Interest payabla Income taxes payable 25,000 S 34,000 28,000 24,000 15000 14,000 9,000 S 79,000 $ 81,000 11.000 Total current iabilities 93,000 85,000 Notes payable (long-term) Total liabilities $172,000 S 166,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity $ 139,000 $ 119,000 44,000 14,000 $ 183,000 133,000 $ 355,000 $ 299,000 Total liabilities and equity