5 The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For...

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5 The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 1,812,000 2014633 Cost of goods sold 887,880 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment 924,120 $ 248,244 43,488 48,924 5,436 19,932 366,024 558,096 7,248 $565,344 Net income Accounts receivable Inventory $ 47,550 increase Accounts payable 13,700 increase Salaries payable $ 12,800 decrease 4,050 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 5 The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 1,812,000 2014633 Cost of goods sold 887,880 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment 924,120 $ 248,244 43,488 48,924 5,436 19,932 366,024 558,096 7,248 $565,344 Net income Accounts receivable Inventory $ 47,550 increase Accounts payable 13,700 increase Salaries payable $ 12,800 decrease 4,050 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