The income statement of Splish Company is shown below. SPLISH COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,960,000 Cost of goods sold Beginning inventory $1,910,000 Purchases 4,380,000 Goods available for sale 6,290,000 Ending inventory 1,610.000 Cost of goods sold 4,680,000 Gross profit 2.280,000 Operating expenses Selling expenses 450,000 Administrative expenses 710,000 1,160,000 Net income $1,120,000 Additional information: 1. Accounts receivable decreased $380,000 during the year. 2. Prepaid expenses increased $190,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $290,000 during the year. 4. Accrued expenses payable decreased $90,000 during the year. 5. Administrative expenses include depreciation expense of $70,000. Prepare the operating activities section of the statement of cash flows using the direct method. SPLISH COMPANY Statement of Cash Flows (Partial) $ $ $