The income statement of Sunland Company is shown below.

SUNLAND COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue				$7,030,000
Cost of goods sold
Beginning inventory		$2,030,000
Purchases		4,310,000
Goods available for sale		6,340,000
Ending inventory		1,690,000
Cost of goods sold				4,650,000
Gross profit				2,380,000
Operating expenses
Selling expenses		470,000
Administrative expenses		730,000		1,200,000
Net income				$1,180,000

Additional information:

1.		Accounts receivable decreased $280,000 during the year.
2.		Prepaid expenses increased $170,000 during the year.
3.		Accounts payable to suppliers of merchandise decreased $270,000 during the year.
4.		Accrued expenses payable decreased $130,000 during the year.
5.		Administrative expenses include depreciation expense of $60,000.

Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Sunland 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).)

SUNLAND 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 Net IncomeDepreciation expenseDecrease in Accounts ReceivableDecrease in InventoryIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Prepaid ExpensesDecrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in Accrued Expenses PayableIncrease in Accrued Expenses PayableIncrease in Inventory		$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 Increase in Accrued Expenses Payable Decrease in Prepaid Expenses Increase in Prepaid Expenses Net Income Decrease in Accrued Expenses Payable Increase in Accounts Payable Decrease in Accounts Payable Depreciation expense Increase in Inventory Increase in Accounts Receivable Decrease in Accounts Receivable Decrease in Inventory	$enter a dollar amount
select an item Decrease in Prepaid Expenses Net Income Decrease in Accounts Receivable Depreciation expense Increase in Accrued Expenses Payable Decrease in Accrued Expenses Payable Increase in Accounts Payable Decrease in Accounts Payable Increase in Accounts Receivable Increase in Inventory Decrease in Inventory Increase in Prepaid Expenses	enter a dollar amount
select an item Increase in Prepaid Expenses Depreciation expense Decrease in Inventory Decrease in Accounts Receivable Decrease in Prepaid Expenses Decrease in Accrued Expenses Payable Increase in Accrued Expenses Payable Net Income Increase in Inventory Increase in Accounts Payable Decrease in Accounts Payable Increase in Accounts Receivable	enter a dollar amount
select an item Net Income Decrease in Accounts Payable Increase in Prepaid Expenses Increase in Inventory Depreciation expense Increase in Accrued Expenses Payable Decrease in Accrued Expenses Payable Increase in Accounts Receivable Increase in Accounts Payable Decrease in Accounts Receivable Decrease in Inventory Decrease in Prepaid Expenses	enter a dollar amount
select an item Depreciation expense Decrease in Accrued Expenses Payable Increase in Accounts Receivable Decrease in Accounts Payable Decrease in Prepaid Expenses Decrease in Accounts Receivable Net Income Increase in Accrued Expenses Payable Increase in Accounts Payable Increase in Inventory Decrease in Inventory Increase in Prepaid Expenses	enter a dollar amount
select an item Increase in Inventory Decrease in Inventory Net Income Increase in Accounts Receivable Decrease in Accounts Payable Decrease in Accounts Receivable Increase in Prepaid Expenses Increase in Accounts Payable Decrease in Prepaid Expenses Decrease in Accrued Expenses Payable Increase in Accrued Expenses Payable Depreciation expense	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