The income statement of Zamora Inc. reported the following condensed information.
| ZAMORA INC. | |
| Revenues | $560,000 |
| Operating expenses | 400,000 |
| Income from operations | 160,000 |
| Income tax expense | 47,000 |
| Net income | $113,000 |
Zamora”s balance sheet contained these comparative data at December 31.
| 2012 | 2011 | |
| Accounts receivable | $60,000 | $75,000 |
| Accounts payable | 35,000 | 48,000 |
| Income taxes payable | 14,000 | 6,000 |
Zamora has no depreciable assets. Accounts payable pertain to operating expenses.
Instructions
Prepare the operating activities section of the statement of cash flows using the indirect method.
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