The income statement of Whitlock Company is presented here. Additional information: Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. Prepaid expenses increased $150,000 during the year. Accounts payable to suppliers of merchandise decreased $340,000 during the year. Accrued expenses payable decreased $100,000 during the year. Operating expenses include depreciation expense of $70,000. The income statement of Whitlock Company is presented here. Additional information: Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. Prepaid expenses increased $150,000 during the year. Accounts payable to suppliers of merchandise decreased $340,000 during the year. Accrued expenses payable decreased $100,000 during the year. Operating expenses include depreciation expense of $70,000