The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue $7,564,900 Cost of goods sold Beginning inventory $1,836,300 Purchases 4,423,500 Goods available for sale 6,259,800 Ending inventory 1,305,000 Total cost of goods sold 4,954,800 Gross profit 2,610,100 Operating expenses 1,130,200 $1,479,900 Net income Additional information: 1. Accounts receivable increased $192,500 during the year, and inventory decreased $531,300. 2. Prepaid expenses increased $175,100 during the year. 3. Accounts payable to suppliers of merchandise decreased $339,900 during the year. 4. Accrued expenses payable decreased $103.400 during the year. 5. Operating expenses include depreciation expense of $87,900. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2020, for Whitlock 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).) Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2020, for Whitlock 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).) WHITLOCK COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities Net Income 1479900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Depreciation Expense C 87900 87900 Increase in Accounts Receivable Decrease in Inventory e in inventory Increase in Prepaid Expenses Decrease in Accounts Payable -339900 Decrease in Accrued Expenses Payable -103400 Net Increase in Cash Cash e Textbook and Media