Final Exam Chapters 9, 10, 11, 12 and Appendix D 10 10 points 8 011845 Portions of the financial statements for Hortzon Telecom are provided below. HORIZON TELECOM Income Statement For the year ended December 31, 2021 Revenues Expenses: Cost of goods sold i operating expenses Depreciation expense Income tax expense $612,000 $360,000 113,000 32,000 53,500 558,500 $ 53,500 Total expenses eBook Net Income References HORIZON TELECOM selected Balance Sheet Data December 31, 2021 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 $5,600 12,200 10,700 6,400 7,200 20,500 Saved Required: Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the direct method. (Amounts to be deducted should be indicated with a minus sign.) HORIZON TELECOM Statement of Cash Flows (partial) For the year ended December 31, 2021 Cash Flows from Operating Activites Net cash flows from operating activibes