The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. SONAD COMPANY Incone Statenent For Year Ended December 31 Sales Cost of roods sold Gross profit Operating expenses Salaries expense $297,838 Depreciation expense 52. 176 Rent expense 58. 698 Anortization expense - Patents 6.522 Utilities expense 23.914 $2. 174,000 1.065.260 1. 108, 740 Gain on sale of equipment Net income 439, 148 669,592 8.896 $ 678, 288 Additional Year-End Balance Sheet Data Accounts receivable $17.350 increase Inventory 24,226 increase Accounts payable 15.025 decrease Salaries payable 2.350 decrease ces 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 $ 0