The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit SONAD COMPANY Income Statement For Year Ended December 31 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 310,853 54,456 61,263 6,807 24,959 $ 2,269,000 1,111,810 1,157,190 458,338 698,852 9,076 $ 707,928 $ 14,200 decrease 1,950 decrease $ 18,750 increase Accounts payable 33,800 increase Salaries payable Prepare the operating activities section of the statement of cash flows using the direct method. The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit SONAD COMPANY Income Statement For Year Ended December 31 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 310,853 54,456 61,263 6,807 24,959 $ 2,269,000 1,111,810 1,157,190 458,338 698,852 9,076 $ 707,928 $ 14,200 decrease 1,950 decrease $ 18,750 increase Accounts payable 33,800 increase Salaries payable Prepare the operating activities section of the statement of cash flows using the direct method.