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 $ 279,069 48,888 54,999 $ 2,037,000 998,130 1,038,870 Gain on sale of equipment Net income Accounts receivable Inventory 6,111 22,407 411,474 627,396 8,148 $635,544 $10,400 increase Accounts payable 19,800 Increase Salaries payable $ 13,550 decrease 3,350 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