Saved The following income statement and additional year-end information is provided $2,095,000 1,026,550 1,068,450 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $287,015 Depreciation expense 50,280 Rent expense 56,565 Amortization expenses-Patents 6,285 Utilities expense 23,045 Gain on sale of equipment Net income 423,190 645,260 8,380 $ 653,640 Accounts receivable Inventory $13,650 increase 15,900 increase Accounts payable Salaries payable $9,075 decrease 3,950 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 s 0 Saved a. Equipment with a book value of $79,500 and an original cost of $162,000 was sold at a loss of $32,000. b. Paid $106,000 cash for a new truck. c. Sold land costing $325,000 for $400,000 cash, yielding a gain of $75,000. d. Long-term investments in stock were sold for $92,800 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities