1.MAP Inc. income statement for the year ended December 31, 2019, contained the following condensed information.(5 Marks)

Service revenue

900,000

Operating expenses (excluding depreciation)

570,000

Depreciation expense

70,000

(640,000)

Gain on sale of equipment

26,000

Income before income taxes

286,000

Income tax expense

56,000

Net income

230,000

MAP's statement of financial position contained the following comparative data at December 31.

2019

2018

Accounts receivable

50,000

49,000

Accounts payable

36,000

31,000

Income taxes payable

4,000

8,500

Instructions

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