Rewe Company's income statement contained the condensed information below REWE COMPANY Income Statement For the Year Ended December 31, 2017 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income 5970,000 S614,000 55,000 16,000 5685,000 S285,000 56,000 5229,000 Thornton's balance sheet contained the comparative data at December 31 2016 560,000 32,000 7,000 Accounts receivable Accounts payable Income taxes payable 2017 S70,000 41,000 13,000 Accounts payable pertain to operating expenses. Instructions Prepare the operating activities section of the statement of cash flows using the direct method NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" REWE COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities Value 1 Cash receipts from customers Less cash payments Value [(2) For operating expenses For income taxes Net cash provided by operating activities omputations (1) Cash receipts from customers Value Value Deduct: Increase in accounts receivable Cash receipts from customers (2) Cash payments for operating expenses Operating expenses per income statement Deduct: Increase in accounts payable Cash payments for operating expenses Value Value (3) Cash payments for income taxes Income tax expense per income statement Deduct: Increase in income taxes payable Cash payments for income taxes Value Value