Shamrock Company’s income statement for the year ended December31, 2017, contained the following condensed...

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Accounting

Shamrock Company’s income statement for the year ended December31, 2017, contained the following condensed information.
Service revenue
$837,000
Operating expenses (excluding depreciation)
$621,000
Depreciation expense
60,000
Loss on sale of equipment
25,000
706,000
Income before income taxes
131,000
Income tax expense
40,000
Net income
$91,000

Shamrock’s balance sheet contained the following comparative dataat December 31.
2017
2016
Accounts receivable $36,000 $55,000
Accounts payable 42,000 31,000
Income taxes payable 4,000 8,200

(Accounts payable pertains to operating expenses.)

Prepare the operating activities section of the statement of cashflows using the direct method.

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In: AccountingShamrock Company’s income statement for the year ended December31, 2017, contained the following condensed information....Shamrock Company’s income statement for the year ended December31, 2017, contained the following condensed information.Service revenue$837,000Operating expenses (excluding depreciation)$621,000Depreciation expense60,000Loss on sale of equipment25,000706,000Income before income taxes131,000Income tax expense40,000Net income$91,000Shamrock’s balance sheet contained the following comparative dataat December 31.20172016Accounts receivable$36,000$55,000Accounts payable42,00031,000Income taxes payable4,0008,200(Accounts payable pertains to operating expenses.)Prepare the operating activities section of the statement of cashflows using the direct method.

Service revenue		$837,000
Operating expenses (excluding depreciation)	$621,000
Depreciation expense	60,000
Loss on sale of equipment	25,000	706,000
Income before income taxes		131,000
Income tax expense		40,000
Net income		$91,000

	2017	2016
Accounts receivable	$36,000	$55,000
Accounts payable	42,000	31,000
Income taxes payable	4,000	8,200