Pharoah Company's income statement contained the condensed information below. Pharoah Company Income Statement...
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Pharoah Company's income statement contained the condensed information below. Pharoah Company Income Statement For the Year Ended December 31, 2017 $2531,700 Service revenue Operating expenses, excluding depreclation Depreclatlon expense Loss on disposal of plant assets Income before Income taxes Income tax expense Net Income $1602,540 43,550 41,760 1787,850 743,850 146,160 $597,690 Pharoah Company's balance sheet contained the comparative data at December 31, 2017 2016 Accounts recelvable 182,700 $156,600 Accounts payable Income taxes payable 33,930 18,270 107,010 83,520 Accounts payable pertain to operating expenses Prepare the operating activities section of the statement of cash flo s using the indirect method. Show am unts that decrease c sh low with either a s eg 15,000 or in parenthesis e 15,000 Pharoah Company Partial Statement of Cash Flows Adjustments to reconcile net income to
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