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The income statement of Vaughn Company is presented here. VAUGHN COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,488,000 Cost
The income statement of Vaughn Company is presented here. VAUGHN COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,488,000 Cost of goods sold Beginning inventory $1,894,700 Purchases 4,385,800 Goods available for sale 6,280,500 Ending inventory 1,530,500 Total cost of goods sold 4,750,000 Gross profit 2,738,000 Operating expenses Selling expenses 415,000 Administrative expenses 647,800 1,062,800 Net income $1,675,200 Additional information: 1. Accounts receivable decreased $378,500 during the year, and inventory decreased $364,200. 2. Prepaid expenses increased $184,000 during the year. 3. Accounts payable to suppliers of inventory decreased $347,200 during the year. 4. Accrued expenses payable decreased $102,800 during the year. 5. Administrative expenses include depreciation expense of $92,100. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Vaughn 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).) VAUGHN COMPANY Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to +A $ > 10 +A $ Rectangular Snip
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