The income statement of Kingbird Inc. for the year ended December 31, 2022, reported the following...

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The income statement of Kingbird Inc. for the year ended December 31, 2022, reported the following condensed information: Service revenue $600,000 Operating expenses 300,000 Income from operations 300,000 Income tax expense 30,000 Net income $270,000 Kingbird's balance sheet contained the following comparative data at December 31: 2022 2021 Accounts receivable $50,000 $60,000 Accounts payable 30,000 40,000 Income taxes payable 4,000 2,000 Kingbird has no depreciable assets. Accounts payable pertains to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. NGBIRD INC. SUPPORT Kingbird has no depreciable assets. Accounts payable pertains to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. KINGBIRD INC. Statement of Cash Flows For the Year Ending December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers Cash Payments For Operating Expenses For Income Taxes Net Cash Provided by Operating Activities extbook and Media 300000 30000 650000 330000 SUPPORT The income statement of Kingbird Inc. for the year ended December 31, 2022, reported the following condensed information: Service revenue $600,000 Operating expenses 300,000 Income from operations 300,000 Income tax expense 30,000 Net income $270,000 Kingbird's balance sheet contained the following comparative data at December 31: 2022 2021 Accounts receivable $50,000 $60,000 Accounts payable 30,000 40,000 Income taxes payable 4,000 2,000 Kingbird has no depreciable assets. Accounts payable pertains to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. NGBIRD INC. SUPPORT Kingbird has no depreciable assets. Accounts payable pertains to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. KINGBIRD INC. Statement of Cash Flows For the Year Ending December 31, 2022 Cash Flows from Operating Activities Cash Receipts from Customers Cash Payments For Operating Expenses For Income Taxes Net Cash Provided by Operating Activities extbook and Media 300000 30000 650000 330000 SUPPORT