Business, 16.10.2019 00:00 magdlenejekkar

Eastern travel services, inc. comparative balance sheetsdecember 31, 2017 and 2016assets20172016current assets: cash$45,000$20,000accounts receivable77,00081,000inventory60,0 0019,000prepaid insurance13,00017,000total current assets$195,000$137,000land$105,000$ 120,000equipment84,00053,000less: accumulated depreciation(21,000)(16,000)total assets$363,000$294,000liabilitiescu rrent liabilities: accounts payable$29,000$38,000wages payable28,00022,000interest payable17,00016,000income taxes payable13,00010,000total current liabilities$87,000$86,000notes payable (long-term)93,00087,000total liabilities$180,000$173,000stockhol ders' equitycommon stock$152,000$120,000retained earnings31,0001,000total stockholders' equity$183,000$121,000total liabilities and equity$363,000$294,000the comparative balance sheet foreasterneasterntravel services, inc., for december 31,20172017and20162016,is as follows: (click the icon to view the comparative balance sheet.) the following information is taken from the records ofeasterneasterntravel services, inc.: (click the icon to view the transaction data.)prepare the statement of cash flows (indirect method) foreasterneasterntravel services, inc., for20172017.prepare the statement one section at a time. (use parentheses or a minus sign for numbers to be subtracted and decreases incash.)eastern travel services, inc. statement of cash flows—operating activities section (indirect method)for the year ended december 31, 2017operating activities: adjustments to reconcile net income to cash basis: balanced sheetbalance sheetnet cash provided by (used for) operating activitiesa. land was sold for$ 11 comma 000$11,000.b. equipment was purchased for cash. c.there were no disposals of equipment during the year. d.the common stock was issued for cash. e.net income for20172017was$ 37 comma 000$37,000.f. cash dividends paid during the year were$ 7 comma 000$7,000.transaction dataa. land was sold for$ 11 comma 000$11,000.b. equipment was purchased for cash. c.there were no disposals of equipment during the year. d.the common stock was issued for cash. e.net income for20172017was$ 37 comma 000$37,000.f. cash dividends paid during the year were$ 7 comma 000$7,000.

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