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The income statement of Marin Inc. is presented here. Marin Inc. Income Statement For the Year Ended November 30, 2022 Sales revenue $7,579,100 Cost of

The income statement of Marin Inc. is presented here.

Marin Inc. Income Statement For the Year Ended November 30, 2022

Sales revenue

$7,579,100

Cost of goods sold

Beginning inventory

$1,866,300

Purchases

4,483,800

Goods available for sale

6,350,100

Ending inventory

1,573,100

Total cost of goods sold

4,777,000

Gross profit

2,802,100

Operating expenses

Selling expenses

446,400

Administrative expenses

690,100

1,136,500

Net income

$1,665,600

Additional information:

1. Accounts receivable decreased $ 372,700 during the year, and inventory decreased $ 293,200.
2. Prepaid expenses increased $ 148,500 during the year.
3. Accounts payable to suppliers of merchandise decreased $ 346,700 during the year.
4. Accrued expenses payable decreased $ 98,900 during the year.
5. Administrative expenses include depreciation expense of $ 109,200.

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the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Marin Inc. Partial Statement of Cash Flows $ Adjustments to reconcile net income to $ $

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