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Waterway Company's income statement contained the following condensed information. WATERWAY COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 $74,300 40,100 12,300 2021 $59,700 $624,000 Waterway's balance sheets contained the comparative data at December 31, shown below. 27,900 6,500 56,000 25,800 $970,700 705,800 264,900 39,000 $225,900 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).)

Waterway Company's income statement contained the following condensed information. Waterway's balance sheets contained the comparative data at December 31 , shown below. Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decreose cash flow with either asign eg 15,000 or in parenthesis eg. (15,000) ) Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that discreass cash flon Wor either a - signes 15,000 or in parenthesis eg (25,000) )

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