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Service revenue Operating expenses (excluding depreciation) $621,000 Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income $845,000
Service revenue Operating expenses (excluding depreciation) $621,000 Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income $845,000 59,000 26,000 706,000 139,000 40,000 $99,000 Bridgeport's balance sheet contained the following comparative data at December 31. 2020 2019 Accounts receivable $35,000 $53,000 Accounts payable 39,000 30,000 Income taxes payable 4,100 8,400 (Accounts payable pertains to operating expenses.)
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