- 125 E Save for Later Attempts: 0 of 3 used Submit Answer -/25 JOSEPH NV Partial Statement of Cash Flows Adjustments to reconcile net income to IT - /25 ITI Additional information: 1 2. 3. Accounts receivable increased 192.000 during the year, and inventory decreased 480,000 Prepaid expenses increased 168,000 during the year. Accounts payable to suppliers of merchandise decreased 326,400 during the year, Accrued expenses payable decreased 100,800 during the year. Operating expenses include depreciation expense of 81.600. 4. 5. Prepare the operating activities section of the statement of cash flows for the year ended pember 30, 2020 for Joseph, using the indirect method. (Show amounts that decrease cash flow with either a-sin eg.-15,000 or in parenthesis es. (15.000) JOSEPH NV Partial Statement of Cash Flows Question 1 of 3 -/25 Tii The Income statement of Joseph NV is presented here. Joseph NV Income Statement For the Year Ended November 30, 2020 Sales revenue 7,200,000 Cost of goods sold Beginning inventory 1.824.000 Purchases 4,224,000 Goods available for sale 6,048.000 Ending inventory 1,344,000 Total cost of goods sold 4.704,000 Gross profit 2.496,000 Operating expenses 1104,000 Net income 1,392,000