P4-9 Statement of cash flows L04-8 The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2021, appears below: Service revenue $900,000 Operating expenses 700,000 Income before income taxes 200.000 Income tax expense 50,000 Net income $150,000 P4-9 Statement of cash flows L04-8 The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2021, appears below: Service revenue $900,000 Operating expenses 700,000 Income before income taxes 200.000 Income tax expense 50,000 Net income $150,000