Data for Malouin Corp. are presented in E22.12. 

Instructions 

Prepare the operating activities section of the statement of cash flows using the indirect method. 

Data From E22.12. 

Malouin Corp.'s income statement for the year ended December 31, 2020, had the following condensed information: 

Transcribed Image Text:

Service revenue $778,000 Operating expenses (excluding depreciation) Depreciation expense $499,000 66,000 Unrealized loss on FV-NI investments 4,000 Loss on disposal of equipment 14,000 583,000 Income before income tax 195,000 Income tax expense 58,000 Net income $137,000