The statement of income for Whistler Ltd., a private company reporting under ASPE, is presented here: WHISTLER LTD. Statement of Income Year Ended November 30, 2021 Sales $8,000,000 Cost of goods sold 5,000,000 Gross profit 3,000,000 Operating expenses 2,000,000 Income from operations 1,000,000 Interest expense 100,000 Income before income tax 900,000 Income tax expense 300.000 Net income $600.000 1. 2. 3. . 4 Operating expenses include $75,000 of depreciation expense and a $100,000 impairment loss on property, plant, and equipment Accounts receivable increased by $190,000. Invertory decreased by $50,000. Prepaid expenses related to operating expenses increased by $40,000, Accounts payable to suppliers of inventory decreased by $180,000 Rent payable related to operating expenses decreased by $90,000. Interest payable decreased by $10,000. Deferred revenue received from customers decreased by $17,000. 5. 6. 7 8. 9. Income tax payable increased by $20,000. Prepare the operating activities section of the statement of cash flows, using the direct method. WHISTLER LTD. Statement of Cash Flows (Partial)-Direct Method Year Ended November 30, 2021 Operating activities Cash receipts from customers Cash payments To suppliers For operating expenses For interest For income tax Net cash provided by operating activities