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Business, 06.04.2021 01:00 cupcake3103670

The income statement of Marin Inc. is presented here. Marin Inc. Income Statement For the Year Ended November 30, 2017 Sales revenue $7,579,100 Cost of goods sold Beginning inventory $1,866,300 Purchases 4,483,800 Goods available for sale 6,350,100 Ending inventory 1,573,100 Total cost of goods sold 4,777,000 Gross profit 2,802,100 Operating expenses Selling expenses 446,400 Administrative expenses 690,100 1,136,500 Net income $1,665,600 Additional information: 1. Accounts receivable decreased $372,700 during the year, and inventory decreased $293,200. 2. Prepaid expenses increased $148,500 during the year. 3. Accounts payable to suppliers of merchandise decreased $346,700 during the year. 4. Accrued expenses payable decreased $98,900 during the year. 5. Administrative expenses include depreciation expense of $109,200. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017, for Marin Inc., using the indirect method.

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The income statement of Marin Inc. is presented here. Marin Inc. Income Statement For the Year Ended...
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