Zowine Company's condensed income statement for the year ended December 31, 20-2, was as follows:

Net sales ............................$765,000

Cost of goods sold ............. 550,000

Gross profit ........................$215,000

Operating expenses ............. 30,000

Income before taxes .........$185,000

Income tax expense ............. 65,000

Net income .........................$120,000

Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, was as follows:

Required

Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31,20-2.

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20-2 $60,000 70,000 80,000 55,000 20-1 Cash Accounts reccivablc Merchandise inventory Accounts payable $20,000 100,000 125,000 90,000