Portions of the financial statements for Horizon Telecom are provided below.

HORIZON TELECOM Income Statement For the Year Ended December 31, 2018 Revenues Expenses $616,000 $367,000 115,000 26,000 54,000 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses 562,000 Net Income $ 54,000 HORIZON TELECOM Selected Balance Sheet Data December 31, 2018 S 4,700 12,700 9,900 5,500 7,700 20,200 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 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, 2018 Cash Flows from Operating Activities Adjustments for noncash effects: Changes in current assets and current liabilities Activate Windows Go to Settings to activate Windows. Net cash flows from operating activities