Zumbrunn Companys income statement contained the condensed information below. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2015 Service revenue $969,640 Operating expenses, excluding depreciation $624,810 Depreciation expense 60,490 Loss on disposal of equipment 15,970 701,270 Income before income taxes 268,370 Income tax expense 39,320 Net income $229,050 Zumbrunns balance sheet contained the comparative data at December 31, shown below. 2015 2014 Accounts receivable $75,760 $60,970 Accounts payable 41,880 28,560 Income taxes payable 10,300 6,180 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect 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, 2015 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Net Income For Income Taxes Depreciation Expense Loss on Disposal of Equipment Increase in Accounts Payable Cash Receipts from Customers Decrease in Accounts Receivable Decrease in Accounts Payable For Operating Expenses Increase in Income Taxes Payable Decrease in Income Taxes Payable Increase in Accounts Receivable $ Adjustments to reconcile net income to Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash Receipts from Customers Decrease in Income Taxes Payable Increase in Accounts Receivable Decrease in Accounts Receivable For Operating Expenses For Income Taxes Decrease in Accounts Payable Net Income Depreciation Expense Loss on Disposal of Equipment Increase in Accounts Payable Increase in Income Taxes Payable $ Loss on Disposal of Equipment Increase in Income Taxes Payable Cash Receipts from Customers For Income Taxes Net Income Decrease in Accounts Receivable Increase in Accounts Payable Depreciation Expense For Operating Expenses Decrease in Income Taxes Payable Decrease in Accounts Payable Increase in Accounts Receivable Depreciation Expense Increase in Accounts Receivable Decrease in Accounts Payable Loss on Disposal of Equipment Increase in Accounts Payable Increase in Income Taxes Payable Decrease in Income Taxes Payable Decrease in Accounts Receivable Cash Receipts from Customers For Operating Expenses For Income Taxes Net Income Decrease in Income Taxes Payable Increase in Accounts Payable Cash Receipts from Customers Decrease in Accounts Receivable Increase in Income Taxes Payable Net Income For Operating Expenses Depreciation Expense For Income Taxes Increase in Accounts Receivable Loss on Disposal of Equipment Decrease in Accounts Payable Depreciation Expense For Operating Expenses Increase in Income Taxes Payable For Income Taxes Net Income Loss on Disposal of Equipment Decrease in Income Taxes Payable Decrease in Accounts Payable Increase in Accounts Receivable Increase in Accounts Payable Decrease in Accounts Receivable Cash Receipts from Customers Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash used by Financing Activities Net Cash used by Investing Activities Net Cash used by Operating Activities Net Decrease in Cash Net Increase in Cash $