-/22 Question 1 of 2 Current Attempt in Progress Crane Ltd. is a private company reporting under ASPE. Its income statement and changes in current assets and current liabilities for the year are reported below: CRANE LTD. Income Statement Year Ended November 30, 2021 Sales $360,240 186,200 174,040 Cost of goods sold Gross profit Operating expenses Depreciation expense $117.800 19,000 Gain on sale of equipment (3,800 133,000 Profit before income tax 41,040 Question 1 of 2 > -/22 Income Statement Year Ended November 30, 2021 Sales $360,240 Cost of goods sold 186 200 174040 $117,800 Gross pront Operating experses Depreciation expense Gain on sale of equipment Profit before income tax 19.000 (3,800) 133.000 41040 Income tax expense 11,400 Proht $29,640 Chances in current assets and current abilities were as follows: Question 1 of 2 - /22 !!! Profit $29,640 Changes incurrent assets and current liabilities were as follows. Accounts receivable $13,680 decrease Inventory 7.220 Increase Prepaid expenses 760 increase Accounts payable 4,560 decrease Dividends payable 1,900 decrease Income taxes payable 1,520 decrease Prepare the operating activities section of the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a sign c.8. -15,000 or in parenthesises. (15,0001) uestion 1 of 2 -/22 E Prepare the operating activities section of the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis eg. (15,000).) CRANE LTD. Cash Flow Statement (Partial) Adjustments to reconcile profit to S Question 1 of 2 Adjustments to reconcile profit to > - 3 - Question 1 of 2 -122 e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer to search o G EP