E13-12A

Prepare operating cashflows section (indirect method)

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.

Prepare a statement of cash flows (indirect method)

(Learning Objective 2)

Using the data given in E13-12A, prepare the statement of cash flows (indirect method) for Coastal Travel Services, Inc., for 2017 .

(Can you please show the work)