Sales

Cost of goods sold

Gross profit

Operating expenses

Salaries expense

Depreciation expense

Rent expense

Amortization expenses$-$Patents

Utilities expense

Gain on sale of equipment

Net income

Accounts receivable

$$47,650$ increase Accounts payable

Inventory

$34,400$ increase Salaries payable

$$8,025$ decrease $2,550$ decrease Prepare the operating activities section of the statement of cash flows using the indirect method.

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$Statement of Cash Flows $($partial$)],[,],[$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,$],[,],[,],[,]]$