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Kingbird, Inc.'s income statement contained the condensed information below. Kingbird, Inc. Income Statement For the Year Ended December 31, 2022 Service revenue $2,037,000 Operating expenses,
Kingbird, Inc.'s income statement contained the condensed information below. Kingbird, Inc. Income Statement For the Year Ended December 31, 2022 Service revenue $2,037,000 Operating expenses, excluding depreciation $1,289,400 Depreciation expense 115,500 Loss on disposal of plant assets 33,600 1,438,500 Income before income taxes 598,500 Income tax expense 117,600 Net income $480,900 Kingbird, Inc.'s balance sheets contained the following comparative data at December 31. 2022 2021 Accounts receivable $147,000 $126,000 86,100 67,200 Accounts payable Income taxes payable 27,300 14,700 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000).) Kingbird, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to Adjustments to reconcile net income to
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