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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.