Current Attempt in Progress

Pronghorn Companys income statement for the year ended December 31, 2020, contained the following condensed information.

Service revenue				$845,000
Operating expenses (excluding depreciation)		$621,000
Depreciation expense		59,000
Loss on sale of equipment		26,000		706,000
Income before income taxes				139,000
Income tax expense				40,000
Net income				$99,000

Pronghorns balance sheet contained the following comparative data at December 31.

		2020		2019
Accounts receivable		$35,000		$53,000
Accounts payable		39,000		30,000
Income taxes payable		4,100		8,400

(Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the direct method.

PRONGHORN COMPANY Statement of Cash Flows (Partial) choose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select an opening section name 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
select an item Taxes PaidCash Payments for Income TaxesCash Receipts from CustomersDividends ReceivedDecrease in Accounts ReceivableInterest PaidCash Payments for Operating ExpensesIncrease in InventoryIncrease in Accounts PayableIncrease in Accounts ReceivableDecrease in Accounts PayableDecrease in Inventory		$enter a dollar amount
select an item Decrease in Accounts ReceivableCash Payments for Operating ExpensesDecrease in InventoryDecrease in Accounts PayableCash Payments for Income TaxesIncrease in InventoryIncrease in Accounts PayableTaxes PaidDividends ReceivedInterest PaidCash Receipts from CustomersIncrease in Accounts Receivable	$enter a dollar amount
select an item Interest PaidIncrease in Accounts ReceivableIncrease in InventoryCash Payments for Operating ExpensesCash Payments for Income TaxesTaxes PaidDecrease in InventoryCash Receipts from CustomersDecrease in Accounts ReceivableDecrease in Accounts PayableDividends ReceivedIncrease in Accounts Payable	enter a dollar amount
		enter a subtotal of the two previous amounts
select a closing section name 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		$enter a total amount for the section