BONITA COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $623,700 Depreciation expense 54,500 Loss on disposal of plant assets 26,000 Income before income taxes Income tax expense Net income $969,800 704,200 265,600 40,900 $224,700

Bonita's balance sheets contained the comparative data at December 31 , shown below. Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease c with either a-sign e.g. 15,000 or in parenthesis e.g. (15,000).) BONITA COMPANT Partial Statement of Cash Flows $ cash payments