Blossom 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 38:4 BLOSSOM LTD. Income Statement Year Ended November 30, 2021 Sales $606,720 Cost of goods sold 313.600 Gross profit 293,120 $198,400 32,000 Operating expenses Depreciation expense Gain on sale of equipment Profit before income tax (6,400) 224,000 69,120 Income tax expense 19,200 Profit $49.920 Changes in current assets and current liabilities were as follows: Accounts receivable $23,040 decrease 12.160 increase Inventory Changes in current assets and current liabilities were as follows: Accounts receivable $23,040 decrease Inventory 12,160 increase Prepaid expenses 1,280 increase 7,680 decrease Accounts payable Dividends payable Income taxes payable 3.200 decrease 2,560 decrease Prepare the operating activities section of the cash flow statement using the indirect method. (Show amounts that decre (15,000).) BLOSSOM LTD. Cash Flow Statement (Partial) Year Ended November 30, 2021 Operating Activities Profit $ 49920 Adjustments to reconcile profit to Net Cash Provided by Operating Activities Loss on Sale of Equipment $ 6400 Increase in Accounts Receivable -23040 Increase in Inventory 12160 Increase in Prepaid Expenses 1280 Increase in Accounts Payable -7680 Decrease in Income Taxes Payable 2560