Your answer is partially correct. Try again. Zumbrunn Company's income statement contained the following condensed information. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 $969,400 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense $624,200 54,700 24,000 702,900 266,500 39,700 $ 226,800 Net income Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes payable $74,200 41,700 $59,000 27,400 7,800 12,000 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) ZUMBRUNN COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities For Operating Expenses 609900 Less cash payments: For Income Taxes 35500 Cash Receipts from Customers 954200 Net Cash Provided by Operating Activities