The statement of income of Concord Transport Inc. for the year ended December 31, 2017, reported the following condensed information: CONCORD TRANSPORT INC. Income Statement Year Ended December 31, 2017 Service revenue $ 610,000 Operating expenses 455,000 Income from operations 155,000 Other revenues and expenses Gain on sale of equipment $ 35,000 Interest expense 19,000 16,000 Income before income taxes 171,000 Income taxes 42,000 Net Income $ 129,000 Concords statement of financial position included the following comparative data at December 31: 2017 2016 Accounts receivable $ 66,000 $ 78,000 Prepaid insurance 18,000 13,500 Accounts payable 48,500 80,000 Interest payable 8,000 1,500 Income taxes payable 31,000 11,500 Unearned revenue 24,000 46,000 Additional information: Operating expenses include $180,000 in depreciation expense. The company follows IFRS. Assume that interest is treated as an operating activity for purposes of the statement of cash flows. Collapse question part (a) Partially correct answer. Your answer is partially correct. Try again. Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, using the indirect method.