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 Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $2,120,000 1,038,800 1,081,200 $290,440 50,880 57,240 6,360 23,320 428,240 652,960 8,480 $ 661,440 Accounts receivable Inventory $29,250 increase 29,300 increase Accounts payable Salaries payable $14,475 decrease 3,000 decrease 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 i Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash i