Question

Problem 17-OJA (Video) The income statement of Whitlock Company is presented here. WHITLOCK COMPANY $7.477.800 For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory $1,888,900 Purchases 4,380,300 Goods available for sale 6,269,200 Ending inventory 1,326,600 Total cost of goods sold Gross profit Operating expenses Net income 4,942,600 2,535,200 1,141,700 $1,393,500 Additional information 1. Accounts receivable increased $196,300 during the year, and inventory decreased 5562.300 2. Prepaid expenses increased $168,900 during the year. 3. Accounts payable to suppliers of merchandise decreased $337,000 during the year. 4. Accrued expenses payable decreased $102,300 during the year 5. Operating expenses include depreciation expense of $86,900. 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 .g.-15.000 or in parenthesis eg. (15,000).) WHITLOCK COMPANY Partial Statement of Cash Flows

Answer 1

cler 09 WHITLOCK COMPANY _Partial stalement of cash Flowse For the Year Ended Nov 30, 2020 Cash flows from opereeding activetics - iNed income $1393 500 Adiustments to reconcile nef income to Net cash provided by operating activ Depreciation expense. $| 86900 Deerecese in inventory T $562,300 Decrease in accrued expenses payable):(102300)] Increase in prepaid expens) |$|(168 900)|| Trerecces in accounts treceivable $(196300)|| [Decrease in accounts payable (337000) |$|(155300) Nel cash provided by openetan adicted 19/4,238,200 Ezplanadions : Nest income = $1,393,500 "Adjustments total = $(155300) Ned ccesh provides $1238200 CAns.) by operating aefueties