Service revenue $970,400 Operating expenses, excluding depreciation $624,100 Depreciation expense 55,400 Loss on disposal of plant...

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Service revenue $970,400 Operating expenses, excluding depreciation $624,100 Depreciation expense 55,400 Loss on disposal of plant assets 25.200 704,700 Income before income taxes 265,700 Income tax expense Net income 39,100 $226,600 Concord's balance sheets contained the comparative data at December 31, shown below. 2022 2021 Accounts receivable $75,200 $59.800 Accounts payable 40,400 28,900 Income taxes payable 13,000 6.400 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 eg.-15,000 or in parenthesis eg. (15,000).) CONCORD COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers Less cash payments: For Operating Expenses For Income Taxes Net Cash Provided by Operating Activities 955000 Service revenue $970,400 Operating expenses, excluding depreciation $624,100 Depreciation expense 55,400 Loss on disposal of plant assets 25.200 704,700 Income before income taxes 265,700 Income tax expense Net income 39,100 $226,600 Concord's balance sheets contained the comparative data at December 31, shown below. 2022 2021 Accounts receivable $75,200 $59.800 Accounts payable 40,400 28,900 Income taxes payable 13,000 6.400 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 eg.-15,000 or in parenthesis eg. (15,000).) CONCORD COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers Less cash payments: For Operating Expenses For Income Taxes Net Cash Provided by Operating Activities 955000