The income statement of Ivanhoe Company is shown below.

IVANHOE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue				$6,980,000
Cost of goods sold
Beginning inventory		$1,850,000
Purchases		4,580,000
Goods available for sale		6,430,000
Ending inventory		1,570,000
Cost of goods sold				4,860,000
Gross profit				2,120,000
Operating expenses
Selling expenses		410,000
Administrative expenses		760,000		1,170,000
Net income				$950,000

Additional information:

1.		Accounts receivable decreased $300,000 during the year.
2.		Prepaid expenses increased $170,000 during the year.
3.		Accounts payable to suppliers of merchandise decreased $260,000 during the year.
4.		Accrued expenses payable decreased $120,000 during the year.
5.		Administrative expenses include depreciation expense of $70,000.

Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Ivanhoe Company, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

IVANHOE COMPANY Statement of Cash Flows (Partial) choose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select an opening section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
select an item Increase in Accrued Expenses PayableIncrease in Accounts ReceivableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableNet IncomeIncrease in Accounts PayableDecrease in Prepaid ExpensesIncrease in InventoryIncrease in Prepaid ExpensesDepreciation expenseDecrease in InventoryDecrease in Accounts Payable		$enter a dollar amount
Adjustments to reconcile net income to
select a subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
select an item Decrease in InventoryIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Accounts ReceivableDecrease in Accrued Expenses PayableNet IncomeIncrease in Prepaid ExpensesDecrease in Prepaid ExpensesDecrease in Accounts ReceivableIncrease in Accounts PayableDepreciation expenseDecrease in Accounts Payable	$enter a dollar amount
select an item Decrease in Prepaid ExpensesIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Accounts ReceivableIncrease in Accounts PayableDecrease in Accounts PayableIncrease in InventoryNet IncomeDepreciation expense	enter a dollar amount
select an item Decrease in Prepaid ExpensesDepreciation expenseDecrease in Accounts ReceivableNet IncomeIncrease in Accounts ReceivableDecrease in InventoryDecrease in Accrued Expenses PayableIncrease in Accrued Expenses PayableIncrease in Accounts PayableIncrease in InventoryIncrease in Prepaid ExpensesDecrease in Accounts Payable	enter a dollar amount
select an item Decrease in Accounts PayableIncrease in Accounts ReceivableIncrease in InventoryDecrease in InventoryDecrease in Accounts ReceivableNet IncomeDepreciation expenseIncrease in Prepaid ExpensesIncrease in Accounts PayableDecrease in Accrued Expenses PayableDecrease in Prepaid ExpensesIncrease in Accrued Expenses Payable	enter a dollar amount
select an item Decrease in InventoryIncrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in Accounts PayableNet IncomeDecrease in Prepaid ExpensesIncrease in InventoryIncrease in Prepaid ExpensesIncrease in Accrued Expenses PayableDecrease in Accounts ReceivableDepreciation expenseIncrease in Accounts Payable	enter a dollar amount
select an item Decrease in Prepaid ExpensesDecrease in InventoryDepreciation expenseDecrease in Accrued Expenses PayableIncrease in Accounts PayableDecrease in Accounts PayableIncrease in Prepaid ExpensesIncrease in Accrued Expenses PayableIncrease in InventoryDecrease in Accounts ReceivableIncrease in Accounts ReceivableNet Income	enter a dollar amount
		enter a subtotal of the adjustments
select a closing section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		$enter a total amount for the section