ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 Service revenue $971,100 Operating expenses, excluding depreciation $624,900 Depreciation expense 55,600 Loss on disposal of plant assets 24,700 705,200 Income before income taxes 265,900 Income tax expense 39,600 Net income $226,300 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. Accounts receivable Accounts payable Income taxes payable 2020 2019 $74,800 $59,700 41,000 27,700 10,500 6,300 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).) ZUMBRUNN COMPANY Partial Statement of Cash Flows - cash payments