The statement of income for Oriole Ltd., a private company reporting under ASPE, is presented here:

ORIOLE LTD. Statement of Income Year Ended November 30, 2021
Sales		$8,000,000
Cost of goods sold		4,450,000
Gross profit		3,550,000
Operating expenses		2,010,000
Income from operations		1,540,000
Interest expense		110,000
Income before income tax		1,430,000
Income tax expense		330,000
Net income		$1,100,000

Additional information regarding 2021:

1.		Operating expenses include $75,000 of depreciation expense and a $105,000 impairment loss on property, plant, and equipment.
2.		Accounts receivable increased by $185,000.
3.		Inventory decreased by $57,000.
4.		Prepaid expenses related to operating expenses increased by $50,000.
5.		Accounts payable to suppliers of inventory decreased by $187,000.
6.		Rent payable related to operating expenses decreased by $93,000.
7.		Interest payable decreased by $17,000.
8.		Deferred revenue received from customers decreased by $22,000.
9.		Income tax payable increased by $26,000.

(a) Prepare the operating activities section of the statement of cash flows, 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).)

ORIOLE LTD. Statement of Cash Flows (Partial) Year Ended November 30, 2021
Operating activities
Decrease in accounts payableDecrease in rent payableIncrease in rent payableDecrease in income tax payableDecrease in deferred revenueIncrease in accounts payableDecrease in prepaid expensesDepreciation expenseNet IncomeIncrease in interest payableIncrease in accounts receivableIncrease in inventoryIncrease in prepaid expensesDecrease in accounts receivableDecrease in interest payableDecrease in inventoryIncrease in income tax payableIncrease in deferred revenue		$
Adjustments to reconcile net income to
Cash at beginning of periodCash at end of periodCash flows from financing activitiesCash flows from investing activitiesCash flows from operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash provided (used) by operating activitiesNet cash used by financing activitiesNet cash used by investing activitiesNet decrease in cashNet increase in cash
Decrease in accounts payableIncrease in prepaid expensesDecrease in deferred revenueIncrease in rent payableIncrease in interest payableDecrease in interest payableDecrease in income tax payableDecrease in accounts receivableIncrease in deferred revenueIncrease in accounts receivableDecrease in prepaid expensesDecrease in rent payableIncrease in accounts payableDecrease in inventoryNet IncomeImpairment loss on property, plant and equipmentIncrease in inventoryIncrease in income tax payableDepreciation expense	$
Increase in rent payableIncrease in accounts payableDecrease in rent payableIncrease in prepaid expensesIncrease in accounts receivableIncrease in inventoryNet IncomeDecrease in deferred revenueIncrease in income tax payableDecrease in accounts receivableIncrease in deferred revenueDecrease in inventoryDecrease in accounts payableDecrease in prepaid expensesDecrease in interest payableDecrease in income tax payableIncrease in interest payableImpairment loss on property, plant and equipmentDepreciation expense
Increase in accounts payableDecrease in accounts receivableIncrease in income tax payableIncrease in rent payableIncrease in interest payableImpairment loss on property, plant and equipmentIncrease in deferred revenueDecrease in inventoryDecrease in interest payableNet IncomeIncrease in accounts receivableDepreciation expenseDecrease in deferred revenueIncrease in prepaid expensesIncrease in inventoryDecrease in prepaid expensesDecrease in income tax payableDecrease in rent payableDecrease in accounts payable
Increase in rent payableIncrease in inventoryIncrease in accounts payableDecrease in interest payableIncrease in income tax payableDecrease in deferred revenueDecrease in prepaid expensesDecrease in accounts receivableNet IncomeIncrease in interest payableDepreciation expenseImpairment loss on property, plant and equipmentIncrease in prepaid expensesIncrease in accounts receivableDecrease in rent payableDecrease in income tax payableDecrease in accounts payableIncrease in deferred revenueDecrease in inventory
Increase in inventoryIncrease in accounts receivableDecrease in rent payableDepreciation expenseDecrease in accounts payableIncrease in prepaid expensesIncrease in interest payableIncrease in rent payableIncrease in income tax payableDecrease in income tax payableDecrease in interest payableDecrease in prepaid expensesDecrease in deferred revenueDecrease in accounts receivableNet IncomeIncrease in accounts payableImpairment loss on property, plant and equipmentDecrease in inventoryIncrease in deferred revenue
Depreciation expenseDecrease in interest payableIncrease in rent payableDecrease in deferred revenueIncrease in prepaid expensesIncrease in income tax payableIncrease in inventoryDecrease in accounts receivableDecrease in accounts payableDecrease in income tax payableNet IncomeDecrease in rent payableIncrease in accounts receivableDecrease in prepaid expensesIncrease in interest payableIncrease in accounts payableImpairment loss on property, plant and equipmentIncrease in deferred revenueDecrease in inventory
Increase in inventoryIncrease in accounts payableDecrease in rent payableIncrease in interest payableImpairment loss on property, plant and equipmentDecrease in income tax payableDecrease in accounts payableDecrease in accounts receivableIncrease in deferred revenueDecrease in deferred revenueNet IncomeIncrease in accounts receivableDecrease in inventoryIncrease in rent payableDecrease in interest payableDepreciation expenseIncrease in income tax payableDecrease in prepaid expensesIncrease in prepaid expenses
Increase in accounts payableIncrease in prepaid expensesDecrease in deferred revenueIncrease in income tax payableIncrease in rent payableIncrease in deferred revenueDecrease in rent payableIncrease in accounts receivableDecrease in income tax payableImpairment loss on property, plant and equipmentDecrease in prepaid expensesIncrease in interest payableIncrease in inventoryDecrease in accounts receivableNet IncomeDecrease in accounts payableDecrease in interest payableDepreciation expenseDecrease in inventory
Increase in income tax payableIncrease in accounts payableDecrease in prepaid expensesIncrease in interest payableDecrease in income tax payableDecrease in accounts receivableNet IncomeIncrease in prepaid expensesDepreciation expenseImpairment loss on property, plant and equipmentDecrease in inventoryDecrease in accounts payableIncrease in inventoryDecrease in interest payableDecrease in deferred revenueDecrease in rent payableIncrease in rent payableIncrease in deferred revenueIncrease in accounts receivable
Increase in accounts payableDepreciation expenseIncrease in prepaid expensesDecrease in deferred revenueDecrease in accounts payableDecrease in rent payableDecrease in prepaid expensesIncrease in rent payableDecrease in accounts receivableIncrease in income tax payableNet IncomeDecrease in income tax payableDecrease in interest payableIncrease in inventoryIncrease in deferred revenueIncrease in accounts receivableIncrease in interest payableImpairment loss on property, plant and equipmentDecrease in inventory
Cash at beginning of periodCash at end of periodCash flows from financing activitiesCash flows from investing activitiesCash flows from operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash provided by operating activitiesNet cash used by financing activitiesNet cash used by investing activitiesNet cash used by operating activitiesNet decrease in cashNet increase in cash		$