Question

The income statement of Whitlock Company is presented here.


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 $70,000.

Instructions
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2014, for Whitlock Company, using the indirectmethod.


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  • CreatedJanuary 30, 2014
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