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 $ 271,945 47,640 $ 1,985,000 972,650 1,012,350 53,595 5,955 21,835 400,970 611,380 7,940 $ 619,320 Accounts receivable Inventory $ 29,900 increase Accounts payable 18,125 increase Salaries payable $ 11,450 decrease 2,450 decrease Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (Partial) Cash flows from operating activities $ 0