The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses $1,748,000 856,520 891,480 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $239,476 41,952 47,196 5,244 19,228 353,096 538,384 6,992 $ 545,376 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable Inventory Accounts payable Salaries payable $48,300 increase 21,775 increase 14,675 decrease 5,200 decrease Use the direct method to prepare only the cash provided or used by operating activities section of the statement of cash flows for this company. (Amounts to be deducted should be indicated with a minus sign.)