3 4 E23-3B (Preparation of Operating Activities Section-Indirect Method, Periodic Inventory) The income statement of Guesser C ompany is shown below GUESSER COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2012 $755,000 543,000 Sales Cost of goods sold Gross profit Operating expenses 212,000 Selling expenses Administrative expenses $52,000 89,000 141,000 $ 71,000 Net income Additional information: 1. Accounts receivable decreased $63,000 during the year 2. Inventory increased $38,000 during the year 3. Prepaid expenses increased $12,000 during the year 4. Accounts payable to increased $25,000 during the year 5. Accrued expenses pa 6. yable increased $6,000 during the year Administrative expenses in clude depreciation expense of $20,000 Instructions Prepare the operating activities section of the statement of cash flows for the year ended December 31 2012, for Guesser Company, using the indirect method