Problem 17-3A The income statement of whitlock Company is presented here 17-1 17-2 WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 17-3 17-4 17-5 e 17-6 Sales revenue $7,499,900 Cost of goods sold e 17-8 e 17-9 (Part $1,880,800 Beginning inventory 4,326,200 Purchases 6,207,000 Goods available for sale core Ending inventory 1,349,800 Results by Study Total cost of goods sold 4,857,200 Gross profit 2,642,700 Operating expenses 1,094,300 $1,548,400 Net income Additional information: 1. Accounts receivable increased $195,800 during the year, and inventory decreased $531,000. 2. Prepaid expenses increased $172,200 during the year. Accounts payable to suppliers of merchandise decreased $342,100 during the year 4. Accrued expenses payable decreased $109,700 during the year. 5. Operating expenses indlude depreciation expense of $80,900. the operating activities section of the statement of cash flows for the year ended November 30, 20 RESOURCES WHITLOCK COMPANY Partial Statement of Cash Flows 17-1 7-3 17-4 7-5 e 17-8 Adjustments to reconcile net income to e 17-9 (Part Score ve