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Problem 11-58A (Appendix 11A) Preparing Net Cash Flows from Operating Activities-- Direct Method The income statement for Granville Manufacturing Company is presented below. Granville Manufacturing

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Problem 11-58A (Appendix 11A) Preparing Net Cash Flows from Operating Activities-- Direct Method The income statement for Granville Manufacturing Company is presented below. Granville Manufacturing Company Income Statement For the year ended December 31, 2019 Sales $4,199,830 Cost of goods sold 2,787,210 $1,412,620 Gross margin Operating expenses: Salaries expense $831,800 Depreciation expense Administrative expense 246,100 131,000 51,700 43,900 Bad debt expense Other expenses 1,304,500 108,120 Net income . The following balance sheet changes occurred during the year: Accounts receivable increased by $182,400. Inventory increased by $98,725. Prepaid expenses decreased by $64,100. Accounts payable increased by $43,850. The following balance sheet changes occurred during the year: Accounts receivable increased by $182,400. Inventory increased by $98,725 Prepald expenses decreased by $64,100 Accounts payable increased by $43,850 Salaries payable increased by $54,900. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. Use a minus sign to indicate any decreases in cash or cash outflows Granville Manufacturing Company Statement of Cash Flows (Part 1) Using Direct Method Cash flows from operating activities

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