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Crane Company's income statement for the year ended December 31, 2020, contained the following condensed information. Service revenue $848,000 Operating expenses (excluding depreciation) $626,000 Depreciation
Crane Company's income statement for the year ended December 31, 2020, contained the following condensed information. Service revenue $848,000 Operating expenses (excluding depreciation) $626,000 Depreciation expense 60,000 Loss on sale of equipment 26,000 712,000 Income before income taxes Income tax expense Net income 136,000 41,000 $95,000 Crane's balance sheet contained the following comparative data at December 31. 2020 2019 Accounts receivable $37,000 $52,000 Accounts payable 41,000 32,000 Income taxes payable 4,100 8,700 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow CRANE COMPANY Statement of Cash Flows (Partial) For the Quarter Ended December 31, 2020 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities A Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash $ $ $
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