Ivanhoe Company's income statement contained the following condensed information. Ivanhoe Company Income Statement For the Year Ended December 31, 2025 Service revenue Operating expenses, excluding depreciation $1,289,400 Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2025 $147,000 86,100 27,300 Ivanhoe's balance sheets contained the following comparative data at December 31. 2024 $126,000 67,200 115,500 14,700 33,600 $2,037,000 1,438,500 598,500 117,600 $480,900

Ivanhoe Company's income statement contained the following condensed information. Ivanhoe's balance sheets contained the following comparative data at December 31. IVANHOE COMPANY Statement of Cash Flows (Partial) - Indirect Method $ Adjustments to reconcile net income to $