Question: 100.00 points Portions of the financial statements for Horizon Telecom are provided below. HORIZO...Question: 100.00 points Portions of the financial statements for Horizon Telecom are provided below. HORIZO...

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Question: 100.00 points Portions of the financial statements for Horizon Telecom are provided below. HORIZO…
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Show transcribed image text 100.00 points Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOM Income Statement For the Year Ended December 31, 2018 $614,000 ues Expenses Cost of goods sold S362,000 Operating expenses 116,000 Depreciation expense 28,000 Income tax expense 54,000 560,000 Total expenses 54,000 Net Income HORIZON TELECOM Selected Balance Sheet Data December 31, 2018 5,200 Increase in accounts receivable Increase in inventory 12,100 10,500 Decrease in prepaid rent 5,800 Increase in operating expenses payable Decrease in accounts payable 6,600 21,400 Increase in income tax payable Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign

100.00 points Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOM Income Statement For the Year Ended December 31, 2018 $614,000 ues Expenses Cost of goods sold S362,000 Operating expenses 116,000 Depreciation expense 28,000 Income tax expense 54,000 560,000 Total expenses 54,000 Net Income HORIZON TELECOM Selected Balance Sheet Data December 31, 2018 5,200 Increase in accounts receivable Increase in inventory 12,100 10,500 Decrease in prepaid rent 5,800 Increase in operating expenses payable Decrease in accounts payable 6,600 21,400 Increase in income tax payable Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign

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