Morgan Industries uses the indirect method to prepare the operating activities section of its statement of cash flows. Selected information for the fiscal year ended May 31, 2022, appears below. Prepare the operating activities section of its statement of cash flows with a proper heading (name of company, name of financial report, date or time period) using the information below. Net income $600,000 Accounts receivable decrease 28,000 Inventory decrease 35,000 Gain on sale of equipment 15,000 Accounts payable increase 40,000 Income tax payable increase Depreciation expense 25,000 200,000