Please do not give solution in image format thanku Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for WaterwayCompany, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)WATERWAY COMPANYStatement of Cash Flows (Partial) - Indirect MethodAdjustments to reconcile net income to>>>$$$ The income statement of Waterway Company is presented here.Sales revenueCost of goods soldBeginning inventoryPurchasesGoods available for saleEnding inventoryTotal cost of goods soldGross profitWATERWAY COMPANYIncome StatementFor the Year Ended November 30, 2022Operating expensesSelling expensesAdministrative expensesNet income1.Additional information:2.3.4.5.$1,888,9004,380,3006,269,2001,536,600425,000716,700$7,477,8004,732,6002,745,2001,141,700$1,603,500Accounts receivable decreased $380,600 during the year, and inventory decreased $352,300.Prepaid expenses increased $168,900 during the year.Accounts payable to suppliers of inventory decreased $337,000 during the year.Accrued expenses payable decreased $102,300 during the year.Administrative expenses include depreciation expense of $86,900.

Cash flows from operating activities means the net amount of cash inflows and outflows of an entity…

The income statement of Waterway Company is presented here. Sales revenue Cost of goods sold Beginning inventory WATERWAY COMPANY Income Statement For the Year Ended November 30, 2022 Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses 1. Net income Additional information: 2. 3. 4. 5. $1,888,900 4,380,300 6,269,200 1,536,600 425,000 716,700 $7,477,800 4,732,600 2,745,200 1,141,700 $1,603,500 Accounts receivable decreased $380,600 during the year, and inventory decreased $352,300. Prepaid expenses increased $168,900 during the year. Accounts payable to suppliers of inventory decreased $337,000 during the year. Accrued expenses payable decreased $102,300 during the year. Administrative expenses include depreciation expense of $86,900.