The income statement of Vince Gill Company is shown below. VINCE GILL COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Sales revenue $6,815,000 Cost of goods sold Beginning inventory $1,899,060 Purchases 4,393,730 Goods available for sale 6,292,790 Ending inventory 1,600,070 Cost of goods sold 4,692,720 Gross profit 2,122,280 Operating expenses Selling expenses 440,680 Administrative expenses 693,320 1,134,000 Net income $988,280 Additional information: 1. Accounts receivable decreased $316,400 during the year. 2. Prepaid expenses increased $171,010 during the year. 3. Accounts payable to suppliers of merchandise decreased $281,780 during the year. 4. Accrued expenses payable decreased $122,830 during the year. 5. Administrative expenses include depreciation expense of $50,460. Prepare the operating activities section of the statement of cash flows using the direct method.