Waterway Company's income statement contained the following condensed information. WATERWAY COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $624,000 Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $970,700 56,000 25,800 705,800 264,900 39,000 $225,900 Waterway's balance sheets contained the comparative data at December 31, shown below. 2022 2021 Accounts receivable $74,300 $59,700 Accounts payable 40,100 27,900 Income taxes payable 12,300 6,500 Accounts payable pertain to operating expenses. Cash Flows from Operating Activities WATERWAY COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2022 Net Income cash payments: $ Net Cash Provided by Operating Activities $ OF