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The income statement of Flint Corporation is presented here Flint Corporation Income Statement For the Year Ended November 30, 2017 Sales revenue $7,523,300 Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory $1,900,500 4,357,900 6,258,400 1,614,900 4,643,500 Total cost of goods sold Gross profit Operating expenses 2,879,800 Selling expenses Administrative expenses 442,800 701,000 1,143,800 Net income $1,736,000 Additional information: 1. Accounts receivable decreased $373,000 during the year, and inventory decreased $285,600 2. Prepaid expenses increased $149,300 during the year 3. Accounts payable to suppliers of merchandise decreased $343,300 during the year 4. Accrued expenses payable decreased $98,300 during the year. 5. Administrative expenses include depreciation expense of $111,400