1. 2. 5. 3. 4. 6. 7. Sales Operating expenses Income from operations Interest expense Income before income tax Net income 8. Statement of Income Year Ended November 30, 2021 Income tax expense Cost of goods sold Gross profit $8,400,000 4,150,000 Additional information regarding 2021: 4,250,000 2,040,000 2,210,000 150,000 2,060,000 400,000 $1,660,000 Operating expenses include $73,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment. Accounts receivable increased by $189,000. Inventory decreased by $55,000. Prepaid expenses related to operating expenses increased by $50,000. Accounts payable to suppliers of inventory decreased by $184,000. Rent payable related to operating expenses decreased by $91,000. Interest payable decreased by $20,000. Deferred revenue received from customers decreased by $15,000.

Additional information regarding 2021: 1. Operating expenses include $73,000 of depreciation expense and a $110.000 impairment loss on property, plant, and equipment 2. Accounts receivable increased by $189,000. 3. inventory decreased by $55,000 4. Prepaid expenses related to operating expenses increased by $50,000. 5. Accounts payable to suppliers of inventory decreased by $184,000. 6. Rent payable related to operating expenses decreased by $91,000. 7. Interest payable decreased by $20,000. 8. Deferred revenue recelved from customers decreased by $15,000. 9. Income tax payable increased by $29,000. (a) Prenare the oneratine activitios sortion af the etatement of rach flnue ivine the indiroct method /Shaw amounts that decrease cash fow with either a - stg $ eTextbook and Media Save for Later