Exercise 23-5 Concord Company's income statement for the year ended December 31, 2017, contained the following condensed information $839,000 Service revenue Operating expenses (excluding depreciation) Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income $630,000 59,000 26,000 715,000 124,000 40,000 $84,000 Concord's balance sheet contained the following comparative data at December 31 2017 2016 Accounts receivable Accounts payablee Income taxes payable $38,000 $56,000 42,000 31,000 8,000 4,100 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method CONCORD COMPANY Statement of Cash Flows (Partial)