The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2021. Revenue: Net sales TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2021 $2,850,000 104,000 Dividend income Interest income Gain on sales of marketable securities Total revenue and gains Costs and expenses: Cost of goods sold Operating expenses Interest expense Income tax expense Total costs and expenses Net income Selected account balances: Accounts receivable Accrued interest receivable Inventories Short-term prepayments Accounts payable (merchandise suppliers) Accrued operating expenses payable Accrued interest payable Accrued income taxes payable $1,550,000 70,000 4,000 $3,028,000 980,000 185,000 90,000 End of Year $ 650,000 9,000 800,000 20,000 2,805,000 $ 223,000 Beginning of Year $ 720,000 6,000 765,000 15,000 570,000 562,000 65,000 94,000 21,000 12,000 22,000 35,000 Additional Information 1. Dividend revenue is recognized on the cash basis. All other income statement amounts are recognized on the accrual basis. 2. Operating expenses include depreciation expense of $115,000. Required: a. Prepare a partial statement of cash flows, including only the operating activities section of the statement and using the direct method. (List cash outflows as negative amounts.) TREECE, INC. Partial Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: 69 $ 0 0 Net cash flow from operating activities $ 0