Exercise 23-5 Wildhorse Company's income statement for the year ended December 31, 2017, contained the following condensed information Service revenue Operating expenses (excluding depreciation) Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income $839,000 $622,000 60,000 26,000 708,000 131,000 40,000 $91,000 Wildhorse's balance sheet contained the following comparative data at December 31 2017 2016 $51,000 29,000 8,400 Accounts receivable Accounts payable Income taxes payable $37,000 39,000 3,900 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method. WILDHORSE COMPANY Statement of Cash Flows (Partial)