LACICIS The income statement of Nash Company is shown below. $6,850,000 NASH COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Beginning inventory $1,920,000 Purchases 4,410,000 Goods available for sale 6,330,000 Ending inventory 1,600,000 Cost of goods sold Gross profit Operating expenses Selling expenses 450,000 Administrative expenses 700,000 Net income 4,730,000 2,120,000 1,150,000 $970,000 Additional information: 1. Accounts receivable decreased $370,000 during the year. 2. Prepaid expenses increased $160,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $250,000 during the year. 4. Accrued expenses payable decreased $90,000 during the year. 5. Administrative expenses include depreciation expense of $ 70,000, Prepare the operating activities section of the statement of cash flows using the direct method. NASH COMPANY Statement of Cash Flows (Partial) LINK TO TEXT LINK TO TEXT