the comparative balance sheet for Fair Isle travel services inc for december 31, 2017 and 2016 is as follows

Fair isle services inc uses the indirect method for preparing the statement of cash flows. prepare the operation section of the statement of cash flow for 2017

Score: 0 of 4 pts 3 of 5 (3 complete) HW Score: 42.80 E13-12A (similar to) The comparative balance sheet for Fair 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 Fake Isle Travel Services Inc (Click the icon to view the transaction data) Fair 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 (Use parentheses or a minum to be subtracted or net cash outflow.) 0 Balance Sheet Fair Isle Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 2017 2016 Fair Isle Travel Services, Inc. Statement of Cash Flows Operating Activities Section (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Net income Adjustments to reconcile net income to cash basis Depreciation expense Decrease in accounts receivable increase in inventory Decrease in prepaid Insurance Decrease in accounts payable increase in wages payable Increase in interest payable Increase in interest payable Current assets $ Accounts receivable 43,000 5 18.000 79,000 80.000 58,000 24.000 12000 13,000 192,000 $ 135,000 Prepaid insurance Total current assets Increase in income taxes payable Land Equipment Net cash provided by used for operating activities $ 105.000 5 115.000 78.000 57.000 (14.000) (8.000) $ 361.000 $ 299.000 Les Accumulated depreciation Total assets Choose from any list or enter any number in the input fields and then click Check Answer Liabilities Current liabilities Accounts payable Wages payable erot pa All parts showing 29.000 5 31.000 16.000 30.000 25.000 14.000 Type here to search O e Tues Secuon (Hirect Method) nber 31, 2017 Fair Isle Travel Service Comparative Balance 2017 an Transactions a. Land was sold for $6,400. 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 $30,000. f. Cash dividends paid during the year were $7,000. Print Done Less Accumulated depreciation Total assets Liabilities