Problem 17-06A Your answer is partially correct. Try again. Zumbrunn Company's income statement contained the following condensed information. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 $970,500 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $623,400 54,500 25,300 703,200 267,300 39,600 $227,700 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes payable $75,100 40,600 10,900 $60,800 27,200 7,700 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 For the Year Ended December 31, 2020 Cash Flows from Operating Activities For Income Taxes 956200 Less cash payments: For Operating Expenses 610000 Cash Receipts from Customers 36400 646400 Net Cash Provided by Operating Activities 309800 Click if you would like to Show Work for this question: Open Show Work