Problem 17-3A The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 Sales revenue $7,425,500 Cost of goods sold Beginning inventory $1,914,300 Purchases 4,345,900 Goods available for sale 6,260,200 Ending inventory 1,468,200 Total cost of goods sold 4,792,000 Gross profit 2,633,500 Operating expenses 1,116,000 Net income $1,517,500 Additional information: 1. Accounts receivable increased $191,200 during the year, and inventory decreased $446,100. 2. Prepaid expenses increased $176,200 during the year. 3. Accounts payable to suppliers of merchandise decreased $341,100 during the year. 4. Accrued expenses payable decreased $104,900 during the year. 5. Operating expenses include depreciation expense of $85,600.

Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017, 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).)