The income statement of Bridgeport Company is shown below. BRIDGEPORT COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales $729,000 Cost of goods sold 521,000 Gross profit 208,000 Operating expenses Selling expenses Administrative expenses 143,000 Net income $65,000 54,000 89,000 Additional information: 1. Accounts receivable decreased $63,000 during the year. 2. Inventory increased $40,000 during the year. 3. Prepaid expenses increased $12,000 during the year. 4. Accounts payable increased $24,000 during the year. 5. Accrued expenses payable increased $6,000 during the year. Administrative expenses include depreciation expense of $20,000. 6. Prepare the operating activities section of the statement of cash flows using the direct method. BRIDGEPORT COMPANY Statement of Cash Flows (Partial) $ $ $