The following income statement and additional year$-$end information is provided.

SONAD CONPANY

Incone Statement

Sales

Cost of goods sold

Gross profit

Operating expenses

Salaries expense

Depreciation expense

Rent expense

Amortization expenses$-$Patents

Utilities expense

Gain on sale of equipment

Net income

Accounts receivable

$ $19,650$ increase Accounts payable

Inventory

$27,275$ increase Salaries payable

$ $15,925$ decrease

$2,000$ decrease

Prepare the operating activities section of the statement of cash flows using the direct method.

Note: Amounts to be deducted should be Indicated with a minus sign.

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