The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 321,539 Depreciation expense 56,328 Rent expense 63,369 Amortization expenses-Patents 7,041 Utilities expense 25,817 $ 2,347,000 1,150,030 1,196,970 Gain on sale of equipment Net income 474,094 722,876 9,388 $ 732, 264 Accounts receivable Inventory $ 42,800 increase Accounts payable 28,150 increase Salaries payable $ 15,900 decrease 3,600 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers Payments for inventory Payments for salaries Payments for rent Payments for utilities (325,139) (63,369) (25,817) Net cash provided by operating activities $ (414,325)