Problem 13-4A The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 $7,428,800 Sales revenue Cost of goods sold $1,854,400 4,370,800 6,225,200 1,377900 Beginning inventory Purchases Goods available for sale Ending inventory 4,847 300 2,581,500 1,100,000 $1,481,500 Total cost of goods sold Gross profit Operating expenses Net income Additional information: 1. Accounts receivable increased $204,000 during the year, and inventory decreased $476,500. 2. Prepaid expenses increased $178,900 during the year. 3. Accounts payable to suppliers of merchandise decreased $333,000 during the year 4. Accrued expenses payable decreased $105,200 during the year 5. Operating expenses include depreciation expense of $94,700 Prepare the operating activities section of the statement of cash flows using the direct method