SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $265, 369 Depreciation expense 46.488 Rent expense 52.299 Anortization expenses-Patents 5,811 Utilities expense 21.387 $1,937,082 949, 130 987,870 391,274 596,596 7.748 Gain on sale of equipment Net Income $ 54,344 Accounts receivable Inventory $36,250 increase 26.250 increase Accounts payable Salaries payable $10.125 decrease 3.150 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities van TSO