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The comperative balance sheet for Mossic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: E (Click the icon to view the
The comperative balance sheet for Mossic 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 firom the records of saic Traval Services, Inc (Click tha icon to view the transaction data ) Prepare the statement of cash flows (indirect method) for Moic Travel Services, Inc., for 2017 Mosaic Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Prepare the statement one section at a time. (Use parentheses or a minus sign for nurnbers to be sublracted and decreases in cash.) 2017 2016 Mosaic Travel Services, Inc Statement of Cash Flows-Operating Activities Section (Indirect Method For the Year Ended December 31, 2017 Current asses S 43,000 $ 13,000 6,000 82,000 60,000 18,000 10,000 18.000 S 189,000 $ 131,000 Accounts receivable Operating Activities: Transactions Prepaid insurance Adjustmants to reconcile net incoma to cash basis Total current assets a. Land was sold for $13,000 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 539,000. t. Cesh dividends paid during the year were 39,000. S 102,000 118,000 4,000 60,00D 13,000) (8 000) S 362,000 $ 301,000 Land Equipment Less. Accumulated deprecietion Total assets Print Done Liabilities Current labiities Accounts payable Wages payable Intarest payable Incoma taxes payabla S 26,000 $ 38,000 7,000 25,000 12,000 11000 10,0007000 85,000 S 81,000 Net cash provided by (used for) operating activities Total current liabilties 93,000 88,000 otes payable (long-term) Total liabilities $ 178,000 S 169,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity $142,000 S 120,000 2,000 12,000 184,000 132,000 $ 362,000 S 301,000 Total liabilities and equity
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