Year Ended December 31, 2024 Service revenue $403,200 Operating expenses $205,800 Depreciation expense 29,400 Loss on sale of equipment 21,000 256,200 Profit from operations 147,000 IT Other revenues and expenses Interest expense 8,400 Profit before income tax 138,600 34,650 Income tax expense Profit for the year $103,950 Sheridan's balance sheet contained the following comparative data at December 31: 2024 2023 Accounts receivable $43,680 $33,600 Prepaid insurance 4,200 6,720 Accounts payable 25,200 34,440 Interest payable 1,680 1,050 2000 9300 Profit before income tax 138,600 Income tax expense 34,650 Profit for the year $103,950 Sheridan's balance sheet contained the following comparative data at December 31: 2024 2023 Accounts receivable $43,680 $33,600 Prepaid insurance 4,200 6,720 Accounts payable 25,200 34,440. Interest payable 1,680 1,050 Income tax payable 2.520 3.780 Unearned revenue 10.080 6,720 Additional information: Accounts payable relate to operating expenses. Assuming Sheridan reports under ASPE, prepare the operating activities section of the cash flow statement using the direct method. (Show amounts that decrease cash flow with either a sign eg.-15,000 or in parenthesis eg. (15,000).)