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The income statement of Robert NV is presented here. Robert NV Income Statement For the Year Ended November 30, 2020 Sales revenue 6,300,000 Cost of
The income statement of Robert NV is presented here. Robert NV Income Statement For the Year Ended November 30, 2020 Sales revenue 6,300,000 Cost of goods sold Beginning inventory 1,596,000 Purchases 3,696,000 Goods available for sale 5,292,000 Ending inventory 1,176,000 Total cost of goods sold 4,116,000 Gross profit 2,184,000 Operating expenses 966,000 Net income 1,218,000 Additional information: 1. Accounts receivable increased 168,000 during the year, and inventory decreased 420,000. 2. Prepaid expenses increased 147,000 during the year. 3. Accounts payable to suppliers of merchandise decreased 285,600 during the year. 4. Accrued expenses payable decreased 88,200 during the year. 5. Operating expenses include depreciation expense of 71,400. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2020, for Robert, using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis eg. (15,000).) ROBERT NV Partial Statement of Cash Flows Adjustments to reconcile net income to
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