The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. points $1,622,000 794,780 827,220 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $222, 214 Depreciation expense 38,928 Rent expense 43,794 Amortization expense-Patents 4,866 Utilities expense 17,842 ebook Hint Gain on sale of equipment Net income 327,644 499, 576 6,488 506,864 Print $ References Additional Year-End Balance Sheet Data Accounts receivable $13,650 increase Inventory 23,175 increase Accounts payable 12,875 decrease Salaries payable 1,200 decrease 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 Net income $ 506,064 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense 38,928 Amortization expense-Patents 4,866 Gain on sale of equipment (6,488) Changes in current operating assets and liabilities Increase in accounts receivable Increase in inventory Decrease in accounts payable Decrease in salaries payable (13,650) (23,175) (12,875) (1,200) $ 492,470