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Problem 15-26 Best Wishes Company had the following information for the year ended December 31, 20X0: Best Wishes Company Income Statement For the Year Ended December 31, 20x0 Sales Cost of goods sold Gross profit Operating expenses $470,000 254,000 216,000 110,000 73,000 14,000 Selling expense Administrative expense Amortization expense 183,000 $19,000 Net income Additional information: a. Accounts receivable increased by $12,000. b. Inventories increased by $28,000. c. Prepaid expenses increased by $1,200. d. Accounts payable to merchandise suppliers increased by $19,000 e. Accrued expenses payable increased by $9,000. Required Prepare the operating activities section of the statement of cash flows for the year ended December 31, 20X0, for Best Wishes Company, using the direct method Best Wishes Company Statement of Cash Flows For the Year Ended December 31, 20XO Cash flows from operating activities: Cash payments: Net operating cash