The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 1,865,000 Cost of goods sold 913,850 Gross profit 951,150 Operating expenses Salaries expense $ 255,505 Depreciation expense 44,760 Rent expense 50,355 Amortization expensesPatents 5,595 Utilities expense 20,515 376,730 574,420 Gain on sale of equipment 7,460 Net income $ 581,880 Accounts receivable $ 23,950 increase Accounts payable $ 11,950 decrease Inventory 13,675 increase Salaries payable 3,550 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