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The statement of income for Crane Ltd., a private company reporting under ASPE, is presented here: CRANE LTD. Statement of Income Year Ended November 30, 2021 Sales $8,000,000 Cost of goods sold 4,400,000 Gross profit 3,600,000 Operating expenses 2,020,000 Income from operations 1,580,000 Interest expense 150,000 Income before income tax 1,430,000 Income tax expense 370,000 Net income $1,060,000 Additional information regarding 2021: 1. 2. 3. 4. Operating expenses include $73,000 of depreciation expense and a $107.000 impairment loss on property, plant, and equipment. Accounts receivable increased by $183,000. Inventory decreased by $57,000. Prepaid expenses related to operating expenses increased by $43,000. Accounts payable to suppliers of inventory decreased by $187,000. Rent payable related to operating expenses decreased by $90,000. Interest payable decreased by $15,000. Deferred revenue received from customers decreased by $18,000. Income tax payable increased by $23.000. 5. 6. 7. 8. 9. (a) Prepare the operating activities section of the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a-signe.g.-15,000 or in parenthesis e.g. (15,000).) (a) Prepare the operating activities section of the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).) CRANE LTD. Statement of Cash Flows (Partial) Year Ended November 30, 2021 Operating activities Adjustments to reconcile net income to >

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