View Policies Current Attempt in Progress The statement of income of Bramble Corporation is presented here. BRAMBLE CORPORATION Statement of Income Year Ended November 30, 2022 Sales $9,548,000 Cost of goods sold 6,076,000 Gross profit 3,472.000 Salaries expense 1,061,440 Operating expenses 265,360 Depreciation expense 99,200 Income before income tax 2,046,000 Income tax expense 306,280 Net Income $1.739,720 1 Additional information: Accounts receivable Increased $372,000 during the year, and Inventory decreased $620,000. Prepaid expenses, which relate to administrative expenses, increased $186,000 during the year. Accounts payable to suppliers of merchandise decreased 5434,000 during the year. Accrued salaries payable decreased $124,000 during the year. 5. Income tax payable increased $80,600 during the year. 2 3. 4. (a) Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Bramble Corporation using the indirect method. (Show amounts that decrease cash flow with either a signes. 15,000 or in parenthesis e.s. (15,000).) Net income Additional information: 1 2 Accounts receivable increased $372,000 during the year, and inventory decreased $620.000, Prepaid ex ses, which relate to administrative expenses. Increased $186.000 during the year. Accounts payable to suppliers of merchandise decreased 5434,000 during the year. Accrutaries able decreased $124,000 during the year. 5. Income tax payable increased $80,000 during the year 4 Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Bramble Corporation using the Indirect method (Show amounts that decrease cash flow with either signes -15,000 or in parenthesis es (15,000). BRAMBLE CORPORATION Statement of Cash Flows (Partial) Cathrows from operating activities Adjustments to reconcile net income to