$2,813,000 Novak Corp. Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $1.780,600 Depreciation expense 159.500 Loss on disposal of plant assets 46,400 Income before income taxes Income tax expense Net Income 1.986,500 826.500 162.400 $664.100 Novak Corp.'s balance sheets contained the following comparative data at December 31. Accounts receivable Accounts payable Income taxes payable 2022 $203,000 118.900 37.700 2021 $174,000 92,800 20.300 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) Novak Corp. Partial Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities V Net Income V $ 664.100 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 159,500 Loss on Disposal of Plant Assets V 46,400 Increase in Accounts Receivable V Increase in Accounts Payable V Increase in Income Taxes Payable V Net Cash Provided by Operating Activities e Textbook and Media