Reference no: EM133100333
Question - The income statement of Oriole Company is presented here.
ORIOLE COMPANY Income Statement For the Year Ended November 30, 2022
Sales revenue $7,521,200
Cost of goods sold
Beginning inventory $1,952,100
Purchases 4,478,700
Goods available for sale 6,430,800
Ending inventory 1,749,300
Total cost of goods sold 4,681,500
Gross profit 2,839,700
Operating expenses 447,000
Selling expenses 698,200
Administrative expenses 1,145,200
Net income $1,694,500
Additional information:
1. Accounts receivable decreased $403,600 during the year, and inventory decreased $202,800.
2. Prepaid expenses increased $173,600 during the year.
3. Accounts payable to suppliers of inventory decreased $330,900 during the year.
4. Accrued expenses payable decreased $106,500 during the year.
5. Administrative expenses include depreciation expense of $100,100.
Required - What is the Cash Payment for Operating expenses?