12-5A Rewe Company's income statement contained the condensed information below. Prepare the operating activities REWE COMPANY Income Statement section- indirect method. (LO 2), AP For the Year Ended December 31, 2017 Service revenue $970,000 XLS perating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $614,000 55,000 16,000 685,000 285,000 56,000 $229,000 Rewe's balance sheets contained the following comparative data at December 31. 2017 2016 Accounts receivable Accounts payable Income taxes payable $70,000 41,000 13,000 $60,000 32,000 7,000 Accounts payable pertain to operating expenses. Instructions Prepare the operating activities section of the statement of cash flows using the indirect method. Net cash provided $305,000