The income statement of Mazor Company is presented here.
| MAZOR COMPANY | ||
| Sales | $7,600,000 | |
| Cost of goods sold | ||
| Beginning inventory | $1,900,000 | |
| Purchases | 4,400,000 | |
| Goods available for sale | 6,300,000 | |
| Ending inventory | 1,600,000 | |
| Total cost of goods sold | 4,700,000 | |
| Gross profit | 2,900,000 | |
| Operating expenses | ||
| Selling expenses | 450,000 | |
| Administrative expenses | 700,000 | 1,150,000 |
| Net income | $1,750,000 | |
Additional information:
1. Accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.
2. Prepaid expenses increased $150,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $350,000 during the year.
4. Accrued expenses payable decreased $100,000 during the year.
5. Administrative expenses include depreciation expense of $110,000.
Instructions
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2012, for Mazor Company, using the indirect method.
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