Determining Net Cash Flow from Operating Activities Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Dec. 31, 2019 Dec. 31, 2018 Cash $20,000 $17,500 Accounts receivable 10,500 8,000 Inventory 18,000 21,000 Accounts payable 15,000 10,000 Income taxes payable 1,000 2,500 Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000)