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

The following information is taken from the records of Coastal Travel Services, Inc.:
a. Land was sold for $9,200.
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 $32,000.
f. Cash dividends paid during the year were $8,000.
Coastal 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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Coastal Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current as sets: 6 Cash 7 Accounts recelvable 8 Inventory 9 Prepald Insurance Total current assets 44.000 S 17,000 85,000 20,000 16,000 138,000 80,000 61,000 8,000 193,000 S 10 11 12 Land 13 Equipment 14 Less: Accumulated depreclation 15 Total assets 16 108,000 S 80,000 (16,000) 365,000 S 121,000 58,000 (11,000) 306,000 IS Liabilities 17 18 Current labilities: 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable Total current llabilitles 30,000 $ 36,000 IS 35,000 27,000 15,000 8,000 86,000 16,000 11,000 92,000 S 23 24 25 Notes payable (long term) 26 Total llabllitles 27 91,000, 177,000 100,000 192,000 S Stockholders' equity 28 29 Common stock 30 Retalned earnings 31 Total stockholders' equity 32 33 Total llabilitles and equity 136,000 $ 37,000 173,000 S 116,000 13,000 129,000 365,000 S 306,000 34