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P16-6A the activities section- direct method Zumbrunn Company's income statement contained the condensed information below ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2014 970,000 Service revenue Operating expenses, excluding depr $ Depreciation expense Loss on disposal of equipment Income before income taxes Income tax expense Net income 624,000 60,000 16,000 700,000 270,000 40,000 230,000 Zumbrunn's balance sheet contained the comparative data at December 31, shown below 2014 $75,000 46,000 11,000 13 Accounts receivable Accounts payable Income taxes payable $65,000 28,000 7,000 Accounts payable pertain to operating expenses the operating activities section of the statement of cash flows using the direct methoc OTE: Enter a number in cells requesting a value; enter either a number or a formula in cell ZUMBRUNN COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities Cash receipts from customers Value (1) Less cash payments: For operating expenses For income taxes Value (2) Value (3 Net cash provided by operating activities Computation of cash receipts from c Service revenue Deduct: Increase in accounts receivable Cash receipts from customers Computation of cash Operating expenses per income statement Deduct: Increase in accounts payable Cash payments for operating expenses (1) Value Value (2) s for operating ex Value Value (3) Computation of cash payments for income ta xes Income tax expense per income statement Deduct: increase in income taxes payable Cash payments for income taxes Value Value