The statement of income for Wildhorse Ltd., a private company reporting under ASPE, is presented here: WILDHORSE LTD. Statement of Income Year Ended November 30, 2021 Sales $8,200,000 Cost of goods sold 4.400.000 Gross profit 3.800.000 Operating expenses 2.100.000 Income from operations 1.700.000 Interest expense 100.000 Income before income tax 1.600.000 Income tax expense 340.000 Net income $1.260.000 Additional information regarding 2021: 1 2. 3. 4 Operating expenses include $78.000 of depreciation expense and a $108,000 impairment loss on property, plant, and equipment. Accounts receivable increased by $188.000. Inventory decreased by $55,000. Prepaid expenses related to operating expenses increased by $48,000. Accounts payable to suppliers of inventory decreased by $186,000. Rent payable related to operating expenses decreased by $90,000. Interest payable decreased by $19.000 Deferred revenue received from customers decreased by $14,000. Income tax payable increased by $30.000. 5. 6. 7 8. 9 tal Prepare the operating activities section of the statement of cash flows the indirect method. Show the flow with othera-15.000 or in partes 15.000 WILDHORSE LTD. Statement of Cash Flows (Partial) Year Ended November 30, 2021 Operating activities 1260000 Netico Adjustments to reconcile net income to Neovided by cerating activities Degene $ 700 Impalmente propertion and equipment 10000 Increase in accounts receivable 138000 55000 Decretary Inominadores 48000 - 16000 Des in accounts partie Derinant payable 90000 19000 De interest payti Del deferred revenue Increase in x payable -14000 20000 hiet cash provided by vertingactivities