SONAD COMPANY Income Statement For Year Ended December 31, 2017 $1,577,000 772,730 pok 804,270 nt Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $216,049 int 37,848 ences 42,579 4,731 17,347 318,554 485,716 6,308 Gain on sale of equipment Net income $ 492,024 Changes in current asset and current liability accounts for the year that relate to operations follo Accounts receivable $29,900 increase 21,825 increase Accounts payable Salaries payable $13,400 decrease 2,000 decrease Inventory Required: Prepare only the cash flows from 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