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

Additional information obtained from Powell's comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows:

Depreciation expense for 20-2, included in operating expenses on the income statement, was $29,000.
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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Net sales $1,160,000 690,000 Cost of goods sold Gross profit Operating expenses Operating income Other revenues and expenses: $ 470,000 224,100 $ 245,900 $ 560 Interest revenue Interest expense (1,100) (540) $ 245,360 86,000 Income before taxes Income tax expense $ 159,360 Net income