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

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

is as  follows:

Coastal Travel Services, Inc.

Comparative Balance Sheets

December 31, 2017 and 2016

Assets

2017

2016

Current assets:

Cash

$44,000

$17,000

Accounts receivable

80,000

85,000

Inventory

61,000

20,000

Prepaid insurance

8,000

16,000

Total current assets

$193,000

$138,000

Land

$108,000

$121,000

Equipment

80,000

58,000

Less: Accumulated depreciation

(16,000)

(11,000)

Total assets

$365,000

$306,000

Liabilities

Current liabilities:

Accounts payable

$30,000

$36,000

Wages payable

35,000

27,000

Interest payable

16,000

15,000

Income taxes payable

11,000

8,000

Total current liabilities

$92,000

$86,000

Notes payable (long-term)

100,000

91,000

Total liabilities

$192,000

$177,000

Stockholders' equity

Common stock

$136,000

$116,000

Retained earnings

37,000

13,000

Total stockholders' equity

$173,000

$129,000

Total liabilities and equity

$365,000

$306,000

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.

Prepare the statement of cash flows  (indirect method) for Coastal Travel  Services, Inc., for 2017.

Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted and decreases in  cash.)

	Coastal Travel Services, Inc.
	Statement of Cash Flows—Operating Activities Section (Indirect Method)
	For the Year Ended December 31, 2017
	Operating Activities:
	Net income				$32,000
	Adjustments to reconcile net income to cash basis:
	Loss on sale of land			$3,800
	Depreciation expense			5,000
	Decrease in accounts receivable			5,000
	Increase in inventory			(41,000)
	Decrease in prepaid insurance			8,000
	Decrease in accounts payable			(6,000)
	Increase in wages payable			8,000
	Increase in interest payable			1,000
	Increase in income taxes payable			3,000	(13,200)
	Net cash provided by (used for) operating activities				$18,800
	Investing Activities:
	Proceeds from the sale of land	9,200
	Cash used to purchase equipment	(22,000)
	Net cash provided by (used for) investing activities		(12,800)

	Financing Activities:
	Proceeds from issuance of long term notes	9,000
	Dividends paid	(8,000)
	Issuance of stock for cash	20,000
	Net cash provided by (used for) financing activities		21,000
	Net increase (decrease) in cash		27,000
	Cash, beginning of the year		17,000
	Cash, end of the year		$44,000