Sales Cost of goods sold Gross profit Operating expenses Salaries expense SONAD COMPANY Income Statement For Year Ended December 31 Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 280,987 49,224 $ 2,051,000 1,004,990 1,046,010 55,377 6,153 22,561 414,302 631,708 8,204 $ 639,912 $ 22,250 increase Accounts payable 37,525 increase Salaries payable $ 12,075 decrease 5,350 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 Income statement items not affecting cash Changes in current operating assets and liabilities $ 0