COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Mueller Company's condensed income statement for the year ended December 31, 20-2, was as follows:

Net sales..........$900,000

Cost of goods sold........500,000

Gross profit........$400,000

Operating expenses.......185,000

Income before taxes....$215,000

Income tax expense......75,000

Net income..........$140,000

Additional information obtained from Mueller'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 20-1 Cash and cash equivalents Accounts receivable Merchandise inventory Accounts payable $ 50,000 80,000 120,000 60,000 $ 10,000 90,000 150,000 80,000