The income statement of the Britannia Company is shown below BRITANNIA COMPANY Income Statement For The Year Ended December 31, 2017 $ 6,900,000 Sales Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory $1,900,000 4,400,000 6,300,000 1,600,000 Cost of goods sold Gross profit Operating expenses 4,700,000 2,200,000 Selling expenses Administrative expenses 450,000 700,000 1,150,000 $ 1,050,000 Net income Additional information: 1. Decrease in accounts receivable during the vear 2. Increase in prepaid expenses during the year 3. Decrease in accounts payable to suppliers during the year 4. Decrease in accrued expenses payable during the year 5. Depreciation expense included in administrative expenses $ 360,000 170,000 275,000 100,000 60,000 Instructions Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, for Britannia Company, using the indirect method