Jantzen Company€™s income statement contained the condensed information below.

Jantzen€™s balance sheet contained the comparative data at December 31.

Accounts payable pertain to operating expenses.
Instructions
Prepare the operating activities section of the statement of cash flows using the indirectmethod.

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JANTZEN COMPANY Income Statement For the Year Ended December 31, 2010 Kevcnucs $970,000 Operating expenses, excluding depreciation Depreciation expense Loss on sale of cquipment Income before income taxes Income tax expense Net income 614,000 70,000 16,000 270,000 40,000 $230,000 Accounts reccivablc Accounts payable Income taxes payable 2010 $70,000 41,000 13,000 2009 $60,000 28,000 7,000