Prepare the operating activities section$-$indirect method

The income statement of Munsun Company is presented here.

MUNSUN COMPANY

Income Statement

For the Year Ended November $30,2017$

Sales revenue

$$6,700,000$

Cost of goods sold

Total cost of goods sold

Gross profit

Operating expenses

Selling expenses

Administrative expenses

Net income

Additional information:

$1$ Accounts receivable decreased $$280,000$ during the year, and inventory decreased $$300,000.$

$2$ Prepaid expenses increased $$120,000$ during the year.

$3$ Accounts payable to suppliers of merchandise decreased $$175,000$ during the year.

$4$ Accrued expenses payable decreased $$100,000$ during the year.

$5$ Administrative expenses include depreciation expense of $$90,000.$

Instructions

Download the excel answer sheet, record your answer and upload it$.$

Prepare the operating activities section of the statement of cash flows for the year ended November $30,$

$2017,$ for Munsun Company, using the indirect method.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a $"?".$