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Can't figure it out. My numbers do not align. The income statement of Whitlock Company is presented here. $7,415,200 WHITLOCK COMPANY Income Statement For the
Can't figure it out. My numbers do not align.
The income statement of Whitlock Company is presented here. $7,415,200 WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory $1,943,400 Purchases 4,367,400 Goods available for sale 6,310,800 Ending inventory 1,348,800 Total cost of goods sold Gross profit Operating expenses 4,962,000 2,453,200 1,069,800 $1,383,400 Net income Additional information: 1. Accounts receivable increased $207,400 during the year, and inventory decreased $594,600. 2. Prepaid expenses increased $174,400 during the year. 3. Accounts payable to suppliers of merchandise decreased $332,900 during the year. 4. Accrued expenses payable decreased $100,400 during the year. 5. Operating expenses include depreciation expense of $98,500. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WHITLOCK COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities X Cash Receipts from Customers 7,082,300 Less cash payments: To Suppliers 332,900 For Operating Expenses 1,069,800 X 736,900 Net Cash Provided by Operating Activities 274,800 Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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