The account balances for the noncash current assets and current liabilities of Gulf Corp. are as follows December 31 2015 2014 Accounts receivable 48,000 39,500 Merchandise inventory 58,000 74,000 Prepaid expenses 56,500 50,000 Totals 164,500 163,500 Accounts payable 62,000 39,500 Salaries payable 78,500 64.000 Totals 66,500 103,500 During 2015 Gulf Corp reported depreciation expense of $12,000 A loss on sale of equipment was reported in the amount of $17.000 All purchases and sales are on account Net income for 2015 was $46,500. Prepare the operations section of the statement of cash flows using the indirect method (select one) Statement of Cash Flows (select one)