Compute Cash Provided by Operating Activities (LO6) Kennington Companys condensed income statement for the year ended December 31, 20-2, was as follows:

The image shows a statement. Statement. It has two columns. The entries of the table are as follows. Row 1. Net sales, $800,000. Row 2. Cost of goods sold, 475,000. Row 3. Gross profit, $325,000. Row 4. Operating expenses, 148,000. Row 5. Income before taxes, $177,000. Row 6. Income tax expense, 62,000. Row 7. Net income, $115,000. Additional information obtained from Kenningtons comparative balance sheet as of December 31, 20-2 and 20-1, was as follows:

20-2 20-1 Cash $75,000 $ 20,000 Accounts receivable 50,000 75,000 Merchandise inventory 70,000 110,000 Accounts payable 25,000 50,000 Required

Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2.