18. The income statement of Orsay Company for the year ended December 31,2020 is shown below. $6,900,000 Sales revenue Cost of goods sold Beginning inventory $1,700,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold b Jo 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses Administrative expenses Net income 450,000 700,000 1,150,000 $1,050,000 Additional information: 1. Accounts receivable increased $310,000 during the year. 2. Prepaid expenses decreased $210,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $275,000 during the year. 4. Accrued expenses payable increased $90,000 during the year. 5. Administrative expenses include depreciation expense of $80,000. Prepare the operating activities section of the statement of cash flows for the year ended December 2020, for Orsay Company, using the indirect method. (15 points)