P13.2A (LO 2) The statement of income for Whistler Ltd., a private company reporting under ASPE, is presented here: Whistler Ltd. Statement of Income Year Ended November 30, 2021 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income $8,000,000 5,000,000 3,000,000 2,000,000 1,000,000 3. Inventory decreased by $50,000. 4. Prepaid expenses related to operating expenses increased by $40,000. 5. Accounts payable to suppliers of inventory decreased by $180,000. 6. Rent payable related to operating expenses decreased by $90,000. 7. Interest payable decreased by $10,000. 8. Deferred revenue received from customers decreased by $17,000. 9. Income tax payable increased by $20,000. 100,000 900,000 300,000 $ 600,000 Additional information regarding 2021: 1. Operating expenses include $75,000 of depreciation expense and a $100,000 impairment loss on property, plant, and equipment. 2. Accounts receivable increased by $190,000.

Additional information regarding 2021: 1. Operating expenses include $75,000 of depreciation expense and a $100,000 impairment loss on property, plant, and equipment. 2. Accounts receivable increased by $190,000. 3. Inventory decreased by $50,000. 4. Prepaid expenses related to operating expenses increased by $40,000. 5. Accounts payable to suppliers of inventory decreased by $180,000. 6. Rent payable related to operating expenses decreased by $90,000. 7. Interest payable decreased by $10,000. 8. Deferred revenue received from customers decreased by $17,000. 9. Income tax payable increased by $20,000. 1. Operating expenses include $75,000 of depreciation expense and a $100,000 impairment loss on property, plant, and equipment. 2. Accounts receivable increased by $190,000. 3. Inventory decreased by $50,000. 4. Prepaid expenses related to operating expenses increased by $40,000. 5. Accounts payable to suppliers of inventory decreased by $180,000. 6. Rent payable related to operating expenses decreased by $90,000. 7. Interest payable decreased by $10,000. 8. Deferred revenue received from customers decreased by $17,000. 9. Income tax payable increased by $20,000. Instructions a. Prepare the operating activities section of the statement of cash flows, using the indirect method. b. If Whistler were a public company following IFRS and still using the indirect method, could it present some of the information in part (a) in another way? If so, how