Portions of the financial statements for Horizon Telecom are provided below, HORIZON TELECOM Income Statement For the Year Ended December 31, 2018 $615,000 Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense $362,000 111,000 33,000 54,500 Total expenses 560,500 Net Income 54,500 HORIZON TELECOM Selected Balance Sheet Data December 31, 2018 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 S 4,500 12,600 9,200 5,000 6,500 21,600 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 r ended December 31, 2018 Cash Flows from Operating Activities Adjustments for noncash effects: Changes in current assets and current liabilities Net cash flows from operating activities