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Exercise 23-5 Blossom Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue Operating expenses (excluding $847,000 $629,000 Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income 60,000 26,000 715,000 132,000 41,000 $91,000 Blossom's balance sheet contained the following comparative data at December 31 2017 2016 Accounts receivable Accounts payable Income taxes payable $35,000 42,000 4,100 $53,000 30,000 8,800 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method Statement of Cash Flows (Partial)