Problem 13-3A (Video) The income statement of Whitlock Company is presented here. $7,524,400 WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory $1,816,200 Purchases 4,438,600 Goods available for sale 6,254,800 Ending inventory 1,364,600 Total cost of goods sold Gross profit Operating expenses 4,890,200 2,634,200 1,191,900 $1,442,300 Net income Additional information: 1. Accounts receivable increased $204,700 during the year, and inventory decreased $451,600. 2. Prepaid expenses increased $172,900 during the year. 3. Accounts payable to suppliers of merchandise decreased $340,400 during the year. 4. Accrued expenses payable decreased $103,900 during the year. 5. Operating expenses include depreciation expense of $90,100. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2020, for Whitlock 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).) WHITLOCK COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities Net Income 1,442,300 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in Inventory 451,600 Increase in Accounts Receivable -204,700 Decrease in Accounts Payable -340,400 Decrease in Accrued Expenses Payable -103,900 Increase in Prepaid Expenses -172,900 Depreciation Expense 90,100 Net Cash Used by Operating Activities Click if you would like to Show Work for this question: Open Show Work