me following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $217,967 Depreciation expense 38,184 Rent expense 42,957 Amortization expenses-Patents 4,773 Utilities expense 17,501 $1,591,000 779,590 811,410 Gain on sale of equipment Net income 321, 382 490, 028 6,364 $ 496,392 Accounts receivable Inventory $20, 200 increase 35,675 increase Accounts payable Salaries payable $13,650 decrease 4,900 decrease Prepare the operating activities section of the statement of cash flows using the indirect method (Amc deducted should be indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows using the indirect meth deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Net income $ 496,392 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 496,392