Question 14 of 20 -75 View Policies Current Attempt in Progress The income statement of Coronado Inc. for the year ended December 31, 2020, reported the following condensed information: Service revenue $770,000 Operating expenses 360,000 Income from operations 410,000 Income tax expense 80,000 Net income $330,000 Coronado's balance sheet contained the following comparative data at December 31: 2020 2019 Accounts receivable $105,000 $65,000 Accounts payable 60,000 80,000 Income taxes payable 36,000 24,000 Coronado has no depreciable assets. Accounts payable pertains to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. CORONADO INC. Statement of Cash Flows $ $ A > >