Question: <a href=COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company’s condensed income statement for the y…” />Question: COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the y...Question: COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the y...Question: COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the y...Question: COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the y...

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Show transcribed image text COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the year ended December 31, 20-2, was as follows: Net sales Cost of goods sold Gross proft Operating expenses Operating income Other revenues and expenses: $1,220,000 740,000 S 480,000 142,000 338,000 S 420 (1,200) Interest expense Income before taxes Income tax expense Net income S 219 Additional information obtained from Horn's comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: 20-1 Accounts receivable $135,000 145,300 45,000 Accounts payable Income tax payable Supplies and prepayments Accrued and withheld payroll taxes Accrued interest receivable Accrued interest payable $122,600 158,900 87,100 1,000 6,800 3,700 210 160 11,300 2,750 Depreciation expense for 20-2,included in operating expenses on the income statement, was $32,000. Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2

COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Company's condensed income statement for the year ended December 31, 20-2, was as follows: Net sales Cost of goods sold Gross proft Operating expenses Operating income Other revenues and expenses: $1,220,000 740,000 S 480,000 142,000 338,000 S 420 (1,200) Interest expense Income before taxes Income tax expense Net income S 219 Additional information obtained from Horn's comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: 20-1 Accounts receivable $135,000 145,300 45,000 Accounts payable Income tax payable Supplies and prepayments Accrued and withheld payroll taxes Accrued interest receivable Accrued interest payable $122,600 158,900 87,100 1,000 6,800 3,700 210 160 11,300 2,750 Depreciation expense for 20-2,included in operating expenses on the income statement, was $32,000. 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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