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The income statement of Buffalo Industries is presented here. Buffalo Industries Income Statement For the Year Ended November 30, 2022 Sales revenue $7,361,700 Cost of
The income statement of Buffalo Industries is presented here. Buffalo Industries Income Statement For the Year Ended November 30, 2022 Sales revenue $7,361,700 Cost of goods sold Beginning inventory Purchases $1.927.000 4337,900 6,264,900 1,618,200 Goods available for sale Endinginventory Total cost of goods sold 4,646,600 Gross pront 2.915,100 Operating expenses Selling expenses Administrative expenses Net income 450,700 713.800 1.164.500 $1,750,000 Additional information: 1. Accounts receivable decreased $372,100 during the year, and inventory decreased $208.800. 2. Prepaid expenses increased $149,400 during the year. 2. Accounts payable to suppliers of merchandise decreased $350,400 during the year. 4. Accrued expenses payable decreased $100,500 during the year. 5. Administrative expenses include depreciation expense of $110,000 Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022. for Buffalo Industries, using the indirect method (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis eg (15,000.) Buffalo Industries Partial Statement of Cash Flows Adjustments to reconcile net income to
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