Question: is this correct? also, did i do the cash flow from operating activitieset cash provided by operating activities right in those three columns? i provided


The income statement of Whitlock Company is presented here. $7,536,500 WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory $1,882,800 Purchases 4,370,900 Goods available for sale 6,253,700 Ending inventory 1,365,900 Total cost of goods sold Gross profit Operating expenses Net income 4,887,800 2,648,700 1,091,900 $1,556,800 Additional information: 1. Accounts receivable increased $191,000 during the year, and inventory decreased $516,900. 2. Prepaid expenses increased $166,300 during the year. 3. Accounts payable to suppliers of merchandise decreased $347,600 during the year. 4. Accrued expenses payable decreased $101,500 during the year. 5. Operating expenses include depreciation expense of $93,200. 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 e.g. -15,000 or in parenthesis e.g. (15,000).) WHITLOCK COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities Net Income 1,556,800 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 93,200 Decrease in Inventory 516,900 Increase in Accounts Receivable (191,000) Increase in Prepaid Expenses (166,300) Decrease in Accounts Payable (347,600) Decrease in Accrued Expenses Payable (101,500) (196,300) Net Cash Provided by Operating Activities 1,360,500 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash
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