The comparative balance sheet for Mosaic Travel Services, Inc., for December 31, 2017 and 2016, is as follows:

The following information is taken from the records of Mosaic Travel Services, Inc.:

Mosaic 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

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Mosaic Travel Services, Inc Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: Cash Accounts receivable Inventory Prepaid insurance $45,000 $ 20,000 82,000 84,000 60,000 24,000 10,000 13,000 $ 197,000 $141,000 Total current assets Land Equipment Less: Accumulated depreciation Total assets $107,000 114,000 81,000 57,000 (21000) 14,000 $364,000 $ 298,000 Liabilities Current liabilities Accounts payable Wages payable Interest payable $ 30,000 $ 37,000 29,000 20,000 12,000 11,000 6,000 4,000 Income taxes payable Total current liabilities $ 77,000 $ 72,000 93,000 86,000 Notes payable (long-term) Total liabilities $170,000 158,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity $141,000 $ 114,000 53,000 26,000 $194,000 140,000 $364,000 $ 298,000 Total liabilities and equity a. Land was sold for $3,600. 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 $38,000. f. Cash dividends paid during the year were $11,000