- /25 IN The income statement of Chris NV is presented here. Chris NV Income Statement For the Year Ended November 30, 2020 Sales revenue 9,750,000 Cost of goods sold Beginning inventory 2.470,000 Purchases 5,720,000 Goods available for sale 8,190,000 Ending inventory 1.820,000 Total cost of goods sold 6,370,000 Gross profit 3,380,000 Operating expenses 1.495.000 Net Income 1,885,000 = Additional information 1 2 3. Accounts receivable increased 260,000 during the year, and inventory decreased 650,000 Prepaid expenses increased 227.500 during the year. Accounts payable to suppliers of merchandise decreased 442.000 during the year. Accrued expenses payable decreased 136,500 during the year. Operating expenses include depreciation expense of 110,500, 4. 5. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis es (15,000)) CHRIS NV Partial Statement of Cash Flows Prepare the operating activities section of the statement of cash flows using the direct method (Show amounts that decrease cash flow with either d - signes -15,000 or in parenthesses (15.000 CHRIS NV Partial Statement of Cash Flows Cash payments