P17.5A (1.02) Financial Statement Zumbrunn Company's income statement contained the following condensed information $970,000 Zumbrunn Company Income Statement For the Year Ended December 31, 2020 Service revenue Operating expenses, excluding depreciation $624,000 Depreciation expense 60,000 Loss on disposal of plant assets 16.000 Income before income taxes Income tax expense Net income 700.000 270,000 40,000 $230,000 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable $75,000 $65.000 Accounts payable 46,000 28,000 Income taxes payable 11,000 7.000 Accounts payable pertain to operating expenses. Instructions Prepare the operating activities section of the statement of cash flows using the indirect method