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The income statement of Flint Corporation is presented here. Flint Corporation Income Statement For the Year Ended November 30, 2022 Sales revenue $7,523,300 Cost of
The income statement of Flint Corporation is presented here. Flint Corporation Income Statement For the Year Ended November 30, 2022 Sales revenue $7,523,300 Cost of goods sold Beginning inventory $1,900,500 Purchases 4,357,900 Goods available for sale 6,258,400 Ending inventory 1,614,900 Total cost of goods sold 4,643,500 Gross profit 2,879,800 Operating expenses Selling expenses 442.800 Administrative expenses 701.000 1,143,800 Net income $1.736,000 Additional information: 1. Accounts receivable decreased $373,000 during the year, and inventory decreased $285,600. 2. Prepaid expenses increased $149,300 during the year. 3. Accounts payable to suppliers of merchandise decreased $343,300 during the year. 4. Accrued expenses payable decreased $98,300 during the year. 5. Administrative expenses include depreciation expense of $111,400. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Flint Corporation, using the indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or in parenthesis e.g. (15,000).) Flint Corporation Partial Statement of Cash Flows Adjustments to reconcile net income to
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