The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 1,843,000 Cost of goods sold 903,070 20 939,930 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 252,491 44,232 49,761 5,529 20,273 372,286 567,644 7,372 $575,016 $ 44,800 increase Accounts payable 32,150 increase Salaries payable. $ 14,075 decrease 3,550 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted shor indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Net income 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 < Prev 7 of 29 Next >