SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $1,790,000 877,100 912,900 $245,230 42,960 48,330 5,370 19,690 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense 361,580 551,320 7,160 $ 558,480 Gain on sale of equipment Net income Changes in current asset and current liability accounts for the year that relate to operations follow Accounts receivable Inventory $11,150 increase Accounts payable increase Salaries payable $9,800 decrease 5,750 decrease 17,250 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