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The income statement of Blossom Company is presented here. Blossom Company Income Statement For the Year Ended November 30, 2022 Sales revenue $7,565,200 Cost
The income statement of Blossom Company is presented here. Blossom Company Income Statement For the Year Ended November 30, 2022 Sales revenue $7,565,200 Cost of goods sold Beginning inventory $2,029,700 Purchases 4,311,300 Goods available for sale 6,341,000 Ending inventory 1,680,800 Total cost of goods sold 4,660,200 Gross profit 2,905,000 Operating expenses Selling expenses 456,000 Administrative expenses 548,300 1,004,300 Net income $1,900,700 Additional information: 1. Accounts receivable decreased $414,800 during the year, and inventory decreased $348,900. 2. Prepaid expenses increased $181,600 during the year. 3. Accounts payable to suppliers of merchandise decreased $347,900 during the year. 4. Accrued expenses payable decreased $102,300 during the year. 5. Administrative expenses include depreciation expense of $110,500. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Blossom Company, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) Q Search STATE a @
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