SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $334,554 Depreciation expense 58,608 Rent expense 65,934 Amortization expenses-Patents 7,326 Utilities expense 26,862 $2,442,000 1,196,580 1,245, 420 Gain on sale of equipment Net income 493,284 752,136 9, 768 761,904 $ Accounts receivable Inventory $ 43,300 increase 18,775 increase Accounts payable Salaries payable $9,075 decrease 2,750 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