Headland Company's income statement for the year ended December 31, 2020, contained the following condensed information Service revenue $845,000 Operating expenses (excluding depreciation) $621,000 Depreciation expense 59,000 Loss on sale of equipment 26,000 706,000 Income before income taxes 139,000 Income tax expense 40,000 Net income $99,000 Headland's balance sheet contained the following comparative data at December 31. Accounts receivable Accounts payable Income taxes payable 2020 2019 $35,000 $53,000 39.000 30,000 4.100 8,400 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities section of the statement of cash flows using the direct method. HEADLAND COMPANY Statement of Cash Flows (Partial) eTextbook and Media Save for Later Attempts: 1 of 3 used Submit