18 4.76 points Exercise 12-20B (Algo) Direct: Cash flows from operating activities LO P5 The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 311 Sales Cost of goods sold $ 1,821,000 892,290 eBook Cross profit 928,710 Operating expenses H 01 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $249,477 43.704 49,167 5.463 20.031 367,842 560,868 Print Gain on sale of equipment Net income 7,284 $ 568,152 References Accounts receivable Inventory $ 37,150 increase Accounts payable 29,050 increase Salaries payable $ 9,425 decrease 3,800 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be Indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities