Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOM Income Statenent For the Year Ended December 31, 2021 Revenues Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net Income $610,000 $370,000 120, 000 32,000 44, 000 566, 000 $ 44,000 HORIZON TELECOM Selected Balance Sheet Data Decenber 33, 2021 Increase in accounts receivable Increase in inventory Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in incone tax payable $ 6,000 13,000 9,000 5,000 8,000 20,000 Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be Indicated by minus sign.) HORIZON TELECOM Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows trom operating activities: Net cash flows from operating activities HORIZON TELECOM Income Statement For the Year Ended December 31, 2021 Revenues $610,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense $370,000 120,000 32,000 44,000 Total expenses 566,000 $ 44,000 Net Income HORIZON TELECOM Selected Balance Sheet Data December 31, 2021 $ 6,000 13,000 9,000 5,000 8,000 20,000 Increase in accounts receivable Increase in inventory Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in income tax payable