Portions of the financial statements for a company are provided below. Net sales Expenses: A COMPANY...

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Portions of the financial statements for a company are provided below. Net sales Expenses: A COMPANY Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,600,000 $970,000 480,000 42,000 32,000 1,524,000 $76,000 A COMPANY Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $94,000 $81,000 $13,000 (I) Accounts receivable 46,800 53,000 6,200 (D) Inventory 67,000 51,000 16,000 (I) Prepaid rent 2,200 3,400 1,200 (D) Accounts payable 37,000 33,000 4,000 (I) Income tax payable 4,200 6,000 1,800 (D) Required: Prepare the operating activities section of the statement of cash flows for a company using deducted should be indicated with a minus sign.) Portions of the financial statements for a company are provided below. Net sales Expenses: A COMPANY Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,600,000 $970,000 480,000 42,000 32,000 1,524,000 $76,000 A COMPANY Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $94,000 $81,000 $13,000 (I) Accounts receivable 46,800 53,000 6,200 (D) Inventory 67,000 51,000 16,000 (I) Prepaid rent 2,200 3,400 1,200 (D) Accounts payable 37,000 33,000 4,000 (I) Income tax payable 4,200 6,000 1,800 (D) Required: Prepare the operating activities section of the statement of cash flows for a company using deducted should be indicated with a minus sign.)