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The statement of income of Monty Corporation is presented here. MONTY CORPORATION Statement of Income Year Ended November 30, 2022 Sales $7,854,000 Cost of goods sold 4,998,000 Gross profit 2,856,000 Salaries expense 873,120 Operating expenses 218,280 Depreciation expense 81,600 Income before income tax 1,683,000 Income tax expense 251,940 Net income $1,431,060 Additional information: 1. 2. 3. Accounts receivable increased $306,000 during the year, and inventory decreased $510,000. Prepaid expenses, which relate to administrative expenses, increased $153,000 during the year. Accounts payable to suppliers of merchandise decreased $357,000 during the year. Accrued salaries payable decreased $102,000 during the year. Income tax payable increased $66,300 during the year. 4. 5. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Monty Corporation using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis es (15,000).) MONTY CORPORATION Statement of Cash Flows (Partial) Cash flows from operating activities Adjustments to reconcile net income to Adjustments to reconcile net income to $ > > >> $