pter 16 E16A-27 Preparing operating activities The income statement of Rayana Inc. for the year ended December 31, 2013 reported the following condensed information Learning Objective 4 Learning objective 4 E16A-27 Preparing operating activities cash flow -direct method Appendix 16A Net cash $238,000 $ 700,000 360,000 340,000 60,000 $ 280,000 Service revenue Operating expenses Income from operations Income tax expense Net income Rayana's balance sheet contained the following comparative data at December 31 31: 2012 2013 75,000 40,000 6,000 $ 40,000 50,000 3,000 Accounts receivable Accounts payable Income taxes payable Rayana has no depreciable assets. Accounts payable pertains to operating expenses. Requirements Prepare the operating activities section of the statement of cash he singt flows u direct method g Objective 4 E16A-28 Prenaring the ctot