$1,943,000 952,070 990,93 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $266,191 Depreciation expense 46,632 Rent expense 52,461 Amortization expenses-Patents 5,829 Utilities expense 21,373 Gain on sale of equipment Net income 392,486 598,444 7,772 $ 606,216 Accounts receivable Inventory $28,400 increase 31,450 increase Accounts payable Salaries payable $10,350 decrease 3,650 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities