TUMHUIL The comparative balance sheet for Dream Big 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 Dream Big Travel Services, Inc.: (Click the icon to view the transaction data.) Prepare the statement of cash flows (indirect method) for Dream Big Travel Services, Inc., for 2017. Operating Activities: Net income $ 40,000 Adjustments to reconcile net income to cash basis: Increase in interest payable 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 2,000 5,000 4,000 9,000 (38,000) 2,000 (6,000) 12,000 3,000 Increase in income taxes payable Net cash provided by (used for) operating activities (7,000) 33,000 Choose from any list or enter any number in the input fields and then click Check Answer. parts Clear All 4 of 5 (4 complete) Balance Sheet Dream Big Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: Cash $ Accounts receivable Inventory 42,000 $ 75,000 59,000 13,000 12,000 84,000 21,000 15,000 Prepaid insurance Total current assets $ 189,000 $ 132,000 Land Equipment $ - 105,000 $ 115,000 77,000 56,000 (15,000) (10,000) $ 356,000 $ 293,000 Less: Accumulated depreciation Total assets Print Done ravel Services, Inc., for 2017. Transactions a. 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 $40,000. f. Cash dividends paid during the year were $10,000. Print Done 3,000 (7,000) Investing Activities: Net cash provided by (used for) investing activities Choose from any list or enter any number in the input fields and then click Check Answer. 2 remaining parts