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The income statement of Bonita Company is presented here. BONITA COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $ 7,426,700 Cost
The income statement of Bonita Company is presented here. BONITA COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $ 7,426,700 Cost of goods sold Beginning inventory $1,936.200 Purchases 4.401,100 Goods available for sale 6,337,300 Ending inventory 1,610,000 Total cost of goods sold 4.727.300 Gross profit 2,699,400 Operating expenses Selling expenses 440,000 Administrative expenses 708.400 1,148,400 Net income $ 1,551,000 Additional information: 1. Accounts receivable decreased $ 372,000 during the year, and inventory decreased $ 326,200. Prepaid expenses increased $ 174.000 during the year. 2. 3. Accounts payable to suppliers of inventory decreased $ 347,100 during the year. Accrued expenses payable decreased $ 104.200 during the year. Administrative expenses include depreciation expense of $81,300. 5. Prepare the operating activities section of the statement of cash flows for the year ended November 30,2022, for Bonita Company. using the indirect method. (Show amounts that decrease cash flow with either a - signeg. -15,000 or in parenthesis eg. (15,000).) Prepare the operating activities section of the statement of cash flows for the year ended November 30,2022, for Bonita Company. using the indirect method. (Show amounts that decrease cash flow with either a-signeg -15,000 or in parenthesise.g. (15,000).) BONITA COMPANY Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to $ V
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