The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,203,000 Cost of goods sold 1,079,470 Gross profit 1,123,530 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $ 301,811 52,872 59,481 6,609 24,233 445,006 678,524 8,812 $687,336 Accounts receivable Inventory $ 22,500 increase Accounts payable 23,525 increase salaries payable $ 10,725 decrease 3,200 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities Statement of Cash Flows (partial) 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