Sage Companys income statement for the year ended December 31, 2020, contained the following condensed information.

Service revenue				$848,000
Operating expenses (excluding depreciation)		$622,000
Depreciation expense		59,000
Loss on sale of equipment		25,000		706,000
Income before income taxes				142,000
Income tax expense				40,000
Net income				$102,000

Sages balance sheet contained the following comparative data at December 31.

		2020		2019
Accounts receivable		$38,000		$53,000
Accounts payable		41,000		31,000
Income taxes payable		3,800		8,500

(Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Help System Announcements Sage's balance sheet contained the following comparative data at December 31. Accounts receivable Accounts payable Income taxes payable 2020 $38,000 41,000 3,800 2019 $53,000 31,000 8,500 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amou SAGE COMPANY Statement of Cash Flows (Partial) Adjustments to reconcile net income to $ > > $ LINK TO TEXT e 5