The comparative balance sheet for Seaway 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 Seaway Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Seaway 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.) Seaway Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) Operating Activities: Net income For the Year Ended December 31, 2017 Adjustments to reconcile net income to cash basis: Depreciation expense Loss on sale of land 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 income taxes payable Net cash provided by (used for) operating activities 36000 tt ad cel 32 Balance Sheet A 1 2 ti 3 4 5 Current assets: Seaway Travel Services, Inc. Comparative Balance Sheets B C December 31, 2017 and 2016 Assets in a a. 2017 2016 Transactions Land was sold for $6,000. 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 $36,000. 6 Cash $ 43,000 $ 18,000 7 Accounts receivable 8 Inventory 9 Prepaid insurance 83,000 60,000 10,000 84,000 18,000 15,000 f. Cash dividends paid during the year were $6,000. Print Done 10 Total current assets $ 196,000 $ 135,000 11 12 Land 13 Equipment 14 Less: Accumulated depreciation 15 Total assets 16 17 Liabilities $ 109,000 $ 119,000 79,000) (20,000) 59,000 (15,000) $ 364,000 $ 298,000 Print Done heet the cd Balance Sheet 15 Total assets take the tr 16 ash f 17 Liabilities I Transactions sect sh F For 18 Current liabilities: 19 Accounts payable 20 Wages payable 21 Interest payable in c $ 28,000 $ 32,000 a. Land was sold for $6,000. 34,000 28,000 14,000 12,000 22 Income taxes payable 2,000 10,000 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 $36,000. 23 Total current liabilities $ 88,000 $ 82,000 f. Cash dividends paid during the year were $6,000. 24 met in 25 Notes payable (long-term) 97,000 88,000 26 Total liabilities 27 rece 281 Stockholders' equity 29 Common stock nsur 30 Retained earnings pay "able yab Ces d d for 31 Total stockholders' equity 32 33 Total liabilities and equity $ 185,000 $170,000 $ 141,000 $ 120,000 38,000 8,000 $ 179,000 $ 128,000 $ 364,000 $ 298,000 er a Print Done Print Done The comparative balance sheet for Seaway 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 Seaway Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Seaway Travel Services, Inc., for 2017. Decrease in accounts payable Increase in wages payable Increase in interest payable Increase in income taxes payable Net cash provided by (used for) operating activities Investing Activities: Net cash provided by (used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Choose from am fint The comparative balance sheet for Seaway 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 Seaway Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Seaway Travel Services, Inc., for 2017. Decrease in accounts payable Increase in wages payable Increase in interest payable Increase in income taxes payable Net cash provided by (used for) operating activities Investing Activities: Ch U Cash used to purchase equipment Decrease in accounts payable Decrease in accounts receivable Decrease in income taxes payable Decrease in interest payable Decrease in inventory Decrease in prepaid insurance Decrease in wages payable Depreciation expense Dividends paid Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in interest payable Increase in inventory Increase in prepaid insurance and then continue to the next question. a. b C d 0 f. Cash used to purchase equipment TH Decrease in accounts payable Decrease in accounts receivable Th Decrease in income taxes payable Decrease in interest payable Pr Decrease in inventory Decrease in prepaid insurance Decrease in wages payable Depreciation expense Dividends paid Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in interest payable Increase in inventory Increase in prepaid insurance Increase in wages payable Issuance of stock for cash Loss on sale of land c., for December 31, 2017 and 2016, is as follows: Travel Services, Inc.: ay Travel Services, Inc., for 2017. Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Channe b. E C. T d. T e. M f. C