Portions of the financial statements for a company are provided below. Income Statement For the year ended December 31, Year 2 Set sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,925,000 $1,100,000 610,000 55,000 45,000 1,810,000 $ 115,000 Selected Balance Sheet Data December 31 Increase (I) or Cash Year 2 $107,000 Year 1 $87,500 Decrease (D) $19,500 (1) Accounts receivable 45,500 $1,500 6,000 (D) Inventory 80,000 57,500 22,500 (I) Prepaid rent 3,500 6,000 2,500 (D) Accounts payable 50,000 39,500 10,500 (I) Income tax payable 5,500 12,500 7,000 (D) Required: Prepare the operating activities section of the statement of cash flows for the company us 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: Prax Required: Prepare the operating activities section of the statement of cash flows for the 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: Show All Items Net cash flows from operating activities $