SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 313,182 Depreciation expense 54,864 Rent expense 61, 722 Amortization expenses-Patents 6, B58 Utilities expense 25, 146 2,286,000 1, 120, 140 1,165,860 Gain on sale of equipment Net income 461,772 704,088 9, 144 $ 713,232 Accounts receivable $ 33, 400 increase Accounts payable $ 11,275 decrease Inventory 18,625 increase Salaries payable 4,800 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Jounts to be deducted should be Indicated with a minus sign.) Statement of Cash Flows Partial) Cash flows from operating activities