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Hi, can you please check if I did it right ? And how do I calculate the Amortization? The following income statement and information about

Hi, can you please check if I did it right ? And how do I calculate the Amortization?

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 $ 1,641,000
Cost of goods sold 804,090
Gross profit 836,910
Operating expenses
Salaries expense $ 224,817
Depreciation expense 39,384
Rent expense 44,307
Amortization expensesPatents 4,923
Utilities expense 18,051 331,482
505,428
Gain on sale of equipment 6,564
Net income $ 511,992

Changes in current asset and current liability accounts for the year that relate to operations follow.

Accounts receivable $ 20,000 increase Accounts payable $ 9,400 decrease
Inventory 16,450 increase Salaries payable 1,400 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.)

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Statement of Cash Flows (partial) Cash flows from operating activities Net income $511,992 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Gain on sale of equipment Depreciation expense Amortization expense-Patents (6,564) 39,384 Changes in current operating assets and liabilities Increase in accounts receivable Increase in inventory Decrease in accounts payable Decrease in salaries payable (20,000) (16,450) (9,400) (1,400) Net cash provided by operating activities $497,562

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