The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expense-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 $ 481,540 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable $30,500 increase Inventory 25,000 increase Accounts payable 12,500 decrease Salaries payable 3,500 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.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities Net income $ 481,540 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense 44,200 Amortization expensePatents 4,200 Gain on sale of equipment (6,200) Changes in current operating assets and liabilities Increase in accounts receivable Increase in inventory (30,500) (25,000) (12,500) (3,500) Decrease in accounts payable Decrease in salaries payable $ 452,240