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need help with the following The income statement of Crane Company is presented here. CRANE COMPANY Income Statement For the Year Ended November 30, 2022
need help with the following
The income statement of Crane Company is presented here. CRANE COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,463,500 Cost of goods sold Beginning inventory $1,930,200 Purchases 4,481,800 Goods available for sale 6,412,000 Ending inventory 1,568,500 Total cost of goods sold 4,843,500 2,620,000 Gross profit Operating expenses Selling expenses Administrative expenses 445,000 708,000 1,153,000 Net income $1,467,000 Additional information: 1. 2. 3. Accounts receivable decreased $382,000 during the year, and inventory decreased $361,700. Prepaid expenses increased $183,900 during the year. Accounts payable to suppliers of inventory decreased $331,300 during the year. Accrued expenses payable decreased $108,900 during the year. Administrative expenses include depreciation expense of $91,400. 4. 5. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Crane Company, using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.g. (15,000).) Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Crane Company, using the indirect method. (Show amounts that decrease cash flow with either a-signe.g.-15,000 or in parenthesis e.g. (15,000).) CRANE COMPANY Statement of Cash Flows (Partial) Indirect Method $ Adjustments to reconcile net income to > $ $ > > $ e Texthook and MediaStep by Step Solution
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