The income statement of Whitlock Company is presented here.

WHITLOCK COMPANY

Income Statement

For the Year Ended November $30,2020$

Sales revenue $$7,700,000$

Cost of goods sold

Beginning inventory $$1,900,000$

Purchases $4,400,000$

Goods available for sale $6,300,000$

Ending inventory $1,400,000$

Total cost of goods sold $4,900,000$

Gross profit $2,800,000$

Operating expenses $1,150,000$

Net income $1,650,000$

Additional information:

$1.$ Accounts receivable increased $$200,000$ during the year, and inventory decreased $$500,000.$

$2.$ Prepaid expenses increased $$150,000$ during the year.

$3.$ Accounts payable to suppliers of merchandise decreased $$340,000$ during the year.

$4.$ Accrued expenses payable decreased $$100,000$ during the year.

$5.$ Operating expenses include depreciation expense of $$70,0000.$

$\mathrm{.}6.$ Inventory decreased by $$500,000.$

Instructions

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.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a $"?".$

WHITLOCK COMPANY

Partial Statement of Cash Flows

For the Year Ended November $30,2020$

Cash flows from operating activities

Net income Value

Adjustments to reconcile net income to

net cash provided by operating activities

Depreciation expense Value

Increase in accounts receivable Value

Decrease in inventory Value

Increase in prepaid expenses Value

Decrease in accounts payable Value

Decrease in accrued expenses payable Value $?$

Net cash provided by operating activities $?$