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Question 4 of 5 The income statement of Larkspur Company is shown below. Additional information: 1. Accounts receivable decreased $280,000 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 $110,000 during the year. 5. Administrative expenses include depreciation expense of $60,000. Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Larkspur Company, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) LARKSPUR COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $380000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation expense Decrease in Accounts Receivable Increase in Prepaid Expenses Decrease in Inventory $60000 280000 160000 250000 Decrease in Accrued Expenses Payable \begin{tabular}{|l|} \hline \\ \hline \\ \\ \hline \end{tabular} Net Cash Provided by Operating Activities \begin{tabular}{|c|c|} \hline & 320000 \\ \hline$ & 700000 \\ \hline \end{tabular}