The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,197,000 Cost of goods sold 1,076,530 Gross profit 1,120,470 Operating expenses Salaries expense $ 300,989 Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income 52,728 59,319 6,591 24,167 443,794 676,676 8,788 $685,464 Accounts receivable Inventory $ 13,650 increase Accounts payable 20,000 increase Salaries payable $ 11,825 decrease 2,800 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. 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