Excel Problem $5$

Prepare the operating activities section$-$indirect method.

The income statement of Summit Company is presented here.

SUMMIT COMPANY

Income Statement

Additional information:

$1.$ Accounts receivable decreased $\backslash (\backslash$$ $290,000\backslash )$ during the year, and inventory decreased $\backslash (\backslash$$ $500,000\backslash ).$

$2.$ Prepaid expenses increased $\backslash (\backslash$$ $100,000\backslash )$ during the year.

$3.$ Accounts payable to suppliers of merchandise decreased $\backslash (\backslash$$ $270,000\backslash )$ during the year.

$4.$ Accrued expenses payable decreased $\backslash (\backslash$$ $160,000\backslash )$ during the year.

$5.$ Administrative expenses include depreciation expense of $\backslash (\backslash$$ $120,000\backslash ).$

Instructions

Complete the operating activities section of the statement of cash flows for the year ended November $30,2025,$ for Summit Company, using the indirect method.

NOTE: To earn full credit, you must enter a cell reference or a formula in cells G$40,$ G$48,$ and G$49.$

SUMMIT COMPANY

Partial Statement of Cash Flows

For the Year Ended November $30,2025$

Cash flows from operating activities