Portions of the financial statements for a company are provided below. Income Statement For the year ended December 31, Year 2 Net sales $1,750,000 Expenses: Cost of goods sold $1,030,000 Operating expenses 540,000 Depreciation expense 48,000 Income tax expense 38,000 Total expenses 1,656,000 Net income $ 94,000 Selected Balance Sheet Data December 31 nces Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable Year 2 $100,000 46,200 73,000 2,800 43,000 4,800 Year 1 584,000 50,000 54,000 4,600 36,000 9,000 Increase (1) or Decrease (D) $16,000 (1) 3,800 (0) 19,000 (1) 1,880 (D) 7,080 (I) 4,280 (D) Required: Prepare the operating activities section of the statement of cash flows for the company using the indirect method. (List cash outfiows and any decrease in cash as negative amounts.) Statement of Cash Flows partial) For the Year Ended December 31, Year 2 Cash flows from operating activities: Adjustments to reconcile net income to net