Kingbird Company's income statement for the year ended December $31,2020,$ contained the following condensed information$$841,000$Service revenue$$624,000$Operating expenses $($excluding depreciation$)59,000$Depreciation expense$708,00025,000$Lass on sale of equipment$133,000$Income before income taxes$40,000$Income tax expense$$93,000$Net incomeKingbird's balance shect contained the following comparative data at December $3120192020$$$53,000$$$35,000$Accounts receivable$31,00041,000$Accounts payableB$0003,800$Income taxes payableLAccounts payabie pertains to operating expenses

KINGBIRD COMPANY

Statement of Cash Flows $($Partial$)$

Adjustments to reconcile net income to