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 Service revenue $969,200 Operating expenses, excluding depreciation $624,900 Depreciation expense 54,100 Loss on disposal of plant assets 24,000 703,000 Income before income taxes 266,200 Income tax expense 40,100 Net income $226,100 Zumbrunn’s balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable $74,700 $60,600 Accounts payable 41,600 28,000 Income taxes payable 11,600 6,200 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method.