David is a drug rep for a pharmaceutical company. he is in the process of prospecting at various medical offices to see who might want to buy his new drug. he goes to an outpatient surgery center within his sales territory, where he speaks with the receptionist about his company and the products they offer. the receptionist says that the surgery center would be very interested in this new drug and has some extra funds available with which to purchase it. david then launches into a full-scale presentation to the receptionist and attempts to close the sale. david is not successful, however, because he forgot which step in prospecting?

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here.paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method.net cash provided $1,940,000