The income statement of Lily Company is presented here. Sales revenue Cost of goods sold Beginning inventory Purchases G

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The Income Statement Of Lily Company Is Presented Here Sales Revenue Cost Of Goods Sold Beginning Inventory Purchases G 1 (199.54 KiB) Viewed 5 times

The income statement of Lily Company is presented here. Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit LILY COMPANY Income Statement For the Year Ended November 30, 2022 Operating expenses Selling expenses Administrative expenses Net income Additional information: 1. 2. 3. 4. 5. $2,081,800 4,310,200 6,392,000 1,691,000 450,000 711,300 $7,502,400 4,701,000 2,801,400 1,161,300 $1,640,100 Accounts receivable decreased $385,200 during the year, and inventory decreased $390,800. Prepaid expenses increased $182,800 during the year. Accounts payable to suppliers of inventory decreased $341,000 during the year. Accrued expenses payable decreased $109,800 during the year. Administrative expenses include depreciation expense of $110,900. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)
cash payments: LILY COMPANY Partial Statement of Cash Flows November 30, 2022 $ $ $