The comparative balance sheet for Expedition 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 Expedition Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Expedition 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.) Expedition Travel Services, Inc. Statement of Cash FlowsOperating 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 1 2 Expedition Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 3 4 Assets 2017 2016 5 Current assets: 6 Cash $ 15,000 $ 13,000 7 Accounts receivable 75,000 86,000 8 Inventory 55,000 18,000 9 Prepaid insurance 9,000 10,000 10 Total current assets $ 154,000 $ 127,000 11 12 Land $ 110,000 $ 115,000 84,000 56,000 13 Equipment 14 Less: Accumulated depreciation (15,000) (8,000) $ 333,000 $ 290,000 15 Total assets 17 Liabilities 18 Current liabilities: $ 26,000 $ 35,000 28,000 26,000 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable 23 Total current liabilities 18,000 16,000 5,000 8,000 $ 80,000 $ 82,000 24 95,000 88,000 25 Notes payable (long-term) 26 Total liabilities $ 175,000 $ 170,000 27 28 Stockholders' equity 29 Common stock 30 Retained earnings 31 Total stockholders' equity 32 $ 116,000 $ 114,000 42,000 6,000 $ 158,000 $ 120,000 33 Total liabilities and equity $ 333,000 $ 290,000 a. Land was sold for $1,600. 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 $40,000. f. Cash dividends paid during the year were $4,000