The comparative balance sheet for Eastern 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 Eastern Travel Services, Inc. (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Eastern Travel Services, Inc., for 2017. ATTE Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted and decreases in cash) Eastern 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 Transactions a. Land was sold for $11,800. 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 $5,000. Print Done Balance Sheet 2 3 4 Comparative Balance Sheets December 31, 2017 and 2016 Assets 5 Current assets: 6 Cash 7 Accounts receivable 8 Inventory 9 Prepaid insurance 10 Total current assets 11 12 Land 13 Equipment 14 Less: Accumulated depreciation 15 Total assets 16 17 Liabilities 18 Current liabilities: 19 Accounts pavable 2017 2016 $ 42,000 $ 15,000 78,000 83,000 60,000 16,000 9,000 12,000 $ 189,000 $ 126,000 $ 103,000 $ 118,000 79,000 (20,000) 59,000 (13,000) $ 351,000 $ 290,000 $ 26.000 $ 38.000 - 17 Liabilities 18 Current liabilities: 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable 23 Total current liabilities 24 25 Notes payable (long-term) 26 Total liabilities 27 28 Stockholders' equity 29 Common stock $ 26,000 $ 38,000 32,000 19,000 13,000 11,000 12,000 9,000 $ 83,000 $ 77,000 101,000 93,000 $ 184,000 $ 170,000 30 Retained earnings 31 Total stockholders' equity 32 33 Total liabilities and equity $ 136,000 $ 119,000 31,000 1,000 $ 167,000 $ 120,000 $ 351,000 $ 290,000