Current Attempt in Progress Your answer is partially correct. Martinez Company's income statement for the year ended December 31, 2020, contained the following condensed information. Service revenue $846,000 Operating expenses (excluding depreciation) $630,000 Depreciation expense 61,000 Loss on sale of equipment 27,000 718,000 Income before income taxes 128,000 Income tax expense 40,000 Net income $88,000 Martinez's balance sheet contained the following comparative data at December 31. 2020 2019 Accounts receivable. $35,000 $57,000 Accounts payable 42,000 30,000 Income taxes payable 3,900 8,700