The income statement of Concord Corporation is presented here. Additional information: 1. Accounts receivable increased...
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The income statement of Concord Corporation is presented here. Additional information: 1. Accounts receivable increased $310,000 during the year, and inventory decreased $540,000. 2. Prepaid expenses, which relate to administrative expenses, increased $110,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $350,000 during the year. 4. Accrued salaries payable decreased $180,000 during the year. 5. Income tax payable increased $70,000 during the year. Prepare the operating activities section of the statement of cash flows for the year ended November 30,2018 , for Concord Corporation using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g
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