Check my work Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and information about changes in noncash current assets and current liabilities are reported SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $1,893,000 927,57O 965, 430 Salaries expense Dpreciation expense Rent expense Amortization expenses-Patents Utilities expense $259,341 45, 432 51,111 5, 679 20, 823 382,386 593, 044 7,572 s 590,616 Gain on sale of equipment Net income Changes in current asset and current liability accounts for the yeat that relate to operations follow Accounts payable $11, 675 deorease 3, 850 decrease Accounts receivable $ Inventory $41,300 increase 15,025 increase Salaries payable 1 of 1 Check my work ese Salaries payable 3,850 decrease Required: Prepare only the cash flows from 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 lacome statement items not affecting cash ces Changes in current operating assets and liabilities e to search