Question The comparative balonce sheet for Eastern Travel Services, me for December 31, 2017 and 2016, is as fotos (click the loon to view the comparative ale ) The following information is taken from the records of Eastern Trowel Berice, ne (Click the loon to view the ansaction data) Easter Travel Services, Inc. the Indirect method for preparing the statement of cash fom. Prepare the operating section of the trement of cash fows to 2017. u pre or a mina in tur rumbero be subtracted or net cash outlow) Eastern Travel Services, Inc. Statement of Cash Flows Operating Activities Section indirect Method For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile not income to cash basis lomework 3 of 5 (1 complete) in Balance Sheet - n A B -red C 1 pws for 2 Eastern Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 . In 3 es 4 Assets er 3 2017 2016 5 Current assets: 6 Cash 7 Accounts receivable 8 Inventory 9 Prepaid insurance 10 Total current assets S 43,000 $ 22,000 79.000 80,000 63,000 18,000 14.000 18,000 $ 199,000 $ 138,000 11 12 Land 13 Equipment 14 Less: Accumulated depreciation $ 109,000 $ 114,000 82,000 53,000 (20,000) (13,000) fields Print Dono MacBook Air 3 of 5 (1 complete) i Balance Sheet - 14 Less: Accumulated depreciation 15 Total assets (20,000) (13,000) $ 370,000 $ 292,000 16 17 Liabilities 18 Current liabilities: 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable Total current liabilities $ 27,000 $ 37,000 30,000 20,000 15,000 14,000 6,000 3,000 $ 78,000 $ 74,000 23 24 25 Notes payable (long-term) 26 Total liabilities 95,000 87.000 $ 173,000 $ 181,000 27 28 Stockholders' equity Print Done MacBook 28 Stockholders' equity 29 Common stock 30 Retained earnings 31 Total stockholders' equity 32 $ 150,000 $ 118,000 47,00 13,000 $ 197,000 $ 131,000 33 Total liabilities and equity $ 370,000 $ 292,000 Input fields Print Done ICO MacBook Air 0 Transactions n 17 a. Land was sold for $2,000. 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 $38,000. f. Cash dividends paid during the year were $4,000