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The income statement of Swifty Company is presented here. Additional information: 1. Accounts receivable decreased $388,500 during the year, and inventory decreased $323,700. 2. Prepaid
The income statement of Swifty Company is presented here. Additional information: 1. Accounts receivable decreased $388,500 during the year, and inventory decreased $323,700. 2. Prepaid expenses increased $177,200 during the year. 3. Accounts payable to suppliers of inventory decreased $340,900 during the year. 4. Accrued expenses payable decreased $107,400 during the year. 5. Administrative expenses include depreciation expense of $91,600. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Swifty 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).)
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