P12-5A Rewe Company's income statement contained the condensed information below. REWE COMPANY Income Statement For the Year Ended December 31, 2017 Prepare the operating activities section-indirect method. (LO 2), AP XLS Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $970,000 $614,000 55,000 16,000 685,000 285,000 56,000 $229,000 Rewe's balance sheets contained the following comparative data at December 31. Accounts receivable Accounts payable Income taxes payable Accounts payable pertain to operating expenses 2017 $70,000 41,000 13,000 2016 $60,000 32,000 7,000 Instructions Prepare the operating activities section of the statement of cash flows using the indirect method. Net cash provided $305,000