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 The 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 $288, 248 Depreciation expense 50,496 Rent expense 56,808 Amortization expenses-Patents 6,312 Utilities expense 23,144 $2,104,000 1,030,960 1,073, 040 Gain on sale of equipment Net income 425,008 648,032 8,416 656, 448 $ Accounts receivable Inventory $33,100 increase 18,975 increase Accounts payable Salaries payable $8,700 decrease 3,900 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.)