Q3. The controller of Nebula Corporation has provided you with the following information: Nebula Corporation Income Statement For the Year Ended December 31, 2020 Net sales Operating expenses Income from operations Other revenues and expenses $620,000 410,000 210,000 Gain on sale of equipment 30,000 Interest expense 8,000 22,000 Income before income taxes 232,000 Income taxes 92,800 Net income $139.200 Nebula Corporation Comparative Account Information Relating to Operations For the Year Ended December 31, 2020 2020 2019 56,000 40,000 5,000 6,000 59,000 47,000 Accounts receivable Prepaid insurance Accounts payable Interest payable 600 1,500 Income taxes payable 4,200 6,000 20,000 14,000 Unearned revenue Instructions Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2020, using the direct method.