Chapter 23, Problem 11SPA

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

Additional information obtained from Horn’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 $32,000.

REQUIRED

Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2.