CULLUMBER LTD. Income Statement Year Ended September 30, 2021 Sales $584,000 Cost of goods sold 339,000 Gross profit 245,000 Operating expenses $ 110,000 Depreciation expense 35,000 Gain on sale of land (45,000) 100,000 Profit before income tax 145,000 Income tax expense 36,250 Profit $108,750 ho Additional information: 1. Accounts receivable decreased by $16,400 during the year. 2. Inventory increased by $7,900 during the year. 3. Prepaid expenses decreased by $5,900 during the year. Accounts payable to suppliers increased by $11.400 during the year. 5. Accrued expenses payable increased by $5.400 during the year. Income tax payable decreased by $7.200 during the year. 6. CULLUMBER LTD. Cash Flow Statement (Partial)-Indirect Method Adjustments to reconcile profit to C