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Ivanhoe Company's income statement for the year ended December 31, 2020. contained the following condensed information. $843.000 $626,000 61,000 Service revenue Operating expenses (excluding depreciation)
Ivanhoe Company's income statement for the year ended December 31, 2020. contained the following condensed information. $843.000 $626,000 61,000 Service revenue Operating expenses (excluding depreciation) Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income 26,000 713,000 130,000 41,000 $89,000 Ivanhoe's balance sheet contained the following comparative data at December 31. 2020 2019 $38.000 Accounts receivable Accounts payable Income taxes payable 39,000 $55.000 32,000 8,700 4,200 (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 cas with either a-signe.g. - 15,000 or in parenthesis e.g. (15,000).) IVANHOE COMPANY Statement of Cash Flows (Partial) Adjustments to reconcile net income to $
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