Problem 13-3A The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 Sales revenue $7,407,400 Cost of goods solod $1,920,000 4,485,300 6,405,300 1,445,800 Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Net income 4,959,500 2,447,900 1,081,100 1,366,800 Additional information: 1. Accounts receivable increased $197,100 during the year, and inventory decreased $474,200 2. Prepaid expenses increased $183,800 during the year. 3. Accounts payable to suppliers of merchandise decreased $338,400 during the year. 4. Accrued expenses payable decreased $106,900 during the year. 5. Operating expenses include depreciation expense of $87,600