= Below is an income statement for Oak Products for the year ended December 31, 2020, and a schedule listing the company's current assets and current liabilities at the end of 2019 and 2020: Oak Products Income Statement For the Year Ended December 31, 2020 Sales $132,600 Cost of goods sold 55,692 Gross profit 76,908 Operating expenses: Selling & general expenses $12,700 Depreciation expense 2,440 15.140 Operating income 61.768 Loss on sale of land 3,688 Income before income tax 58,080 Income tax expense 11,616 Net income $46,464 December 31. 2020 December 31, 2019 $12,300 Schedule of Current Assets and Current Liabilities Cash Accounts receivable Inventory Prepaid expenses Accounts payable $14,000 4.920 3,830 6.240 5,650 2,090 2.600 2,190 1480 Accrued liabilities 1.680 2.300 Prepare the operating activities section of the statement of cash flows using the indirect method. (Enter amounts that decrease cash flow either with a negative sign preceding the number, e.g. - 15,000 or parenthesis eg. (1.5,000).) Oak Products Partial Statement of Cash flows - Indirect method Operating activities Decrease in accounts receivable Decrease in prepaid expenses Increase in accounts recevable Increase in Inventory Net cash provided by operating activities Loss on sale of land Net cash used in operating actvities Decrease in accounts payable Increase in accrued liabilities Decrease in Inventory Increase in prepaid expenses Adjustment of net Income to cash basis Depreciation expense Increase in accounts payable Gain on sale of land Decrease in accrued liabilities Net Income $ e Textbook and Media