Problem P13-3A, Prepare the operating activities section-indirect method. Solving Financial Accounting Problems Using Microsoft Excel for Windows Problem P13-3A, The income statement of Elbert Company is presented here: ELBERT COMPANY Income Statement For the Year Ended November 31, 2011 \begin{tabular}{|l|r|r|} \hline Sales & \multicolumn{1}{|c|}{} & \multirow{2}{|c|}{$7,700,000} \\ \cline { 1 - 2 } Cost of Goods Sold & $1,900,000 & \\ \cline { 1 - 2 } Beginning inventory & 4,400,000 & \\ \hline Purchases & 6,300,000 & \\ \hline Goods available for sale & 1,400,000 & \\ \hline Ending inventory & & 4,900,000 \\ \hline Cost of goods sold & & $2,800,000 \\ \hline Gross profit & & \\ \cline { 1 - 1 } Operating expenses & 450,000 & \\ \hline Selling expenses & 700,000 & 1,150,000 \\ \hline Administrative expenses & & $1,650,000 \\ \hline Net income & & \\ \hline \end{tabular} Additional information: 1. Accounts receivable increased by $250,000 during the year, and inventory decreased $500,000 2. Prepaid expenses increased $150,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased 5. depreciation expense of \begin{tabular}{l|l|} $100,000 & $340,000 \\ & during the year. \\ \cline { 2 - 3 } & $90,000 \\ \hline \end{tabular} Instructions: Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2011, for Elbert Company, using the indirect method