The income statement of Sheridan Company is presented here.

The income statement of Sheridan Company is presented here. SHERIDAN COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,552,900 Cost of goods sold $1.976,800 Beginning inventory Purchases 4,357,300 Goods available for sale 6,334,100 Ending inventory 1,767,800 4,566,300 2,986,600 Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income 439,000 645,300 1,084,300 $1,902,300 Additional information: 1. 2. Accounts receivable decreased $387,400 during the year, and inventory decreased $209,000. Prepaid expenses increased $181,300 during the year. Accounts payable to suppliers of inventory decreased $343.400 during the year. Accrued expenses payable decreased $100,400 during the year. 3. 4. 5. Administrative expenses include depreciation expense of $103.200. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.g. (15,000).) SHERIDAN COMPANY Partial Statement of Cash Flows