The income statement of Blue Spruce Corporation is presented here. BLUE SPRUCE CORPORATION Income Statement Year Ended November 30, 2018 Sales $8,200,000 Cost of goods sold 4,750,000 Gross profit 3,450,000 Salaries expense 854,000 Operating expenses 212,000 Depreciation expense 80,000 Income before income tax 2,304,000 Income tax expense 249,000 Net income $2,055,000 Additional information: 1. Accounts receivable increased $350,000 during the year, and inventory decreased $510,000. 2. 3. Prepaid expenses, which relate to administrative expenses, increased $120,000 during the year. Accounts payable to suppliers of merchandise decreased $310,000 during the year. Accrued salaries payable decreased $160,000 during the year. Income tax payable increased $90,000 during the year. 4. 5. (a) - / 1 Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2018, for Blue Spruce Corporation using the indirect method(Show amounts that decrease cash flow with either a -signes. -15,000 or in parenthesis eg. (15,000).) BLUE SPRUCE CORPORATION Statement of Cash Flows (Partial) For the Year Ended November 30, 2018 Cash flows from operating activities Net Income Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense v >