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 $ 2,450,000 1,200,500 Gross profit 1,249,500 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $ 335,650 58,800 66,150 7,350 26,950 494,900 754,600 9,800 $ 764,400 Accounts receivable $ 29,650 increase Accounts payable 21,675 increase Salaries payable $ 8,625 decrease 3,250 decrease Inventory 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. 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