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Question 2/8 20p. Problem 3 (20 marks): The income statement of Bamber Company is presented here Bamber Company Income Statement For the Year Ended November
Question 2/8 20p. Problem 3 (20 marks): The income statement of Bamber Company is presented here Bamber Company Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Net income 5,000,000 2,000,000 3,000,000 2,000,000 1,000,000 Additional information: 1. Prepaid expenses decreased $50,000 during the year. 2. Accounts receivable increased $100,000 during the year, and inventory increased $200,000 3. Accounts payable decreased $140,000 during the year. 4. Accrued expenses payable increased $200,000 during the year. 5. Operating expenses include depreciation expense of $50,000. Instructions Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2020, for Bamber Company, using the indirect method
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