The following income statement and additional year-end Information is provided. $ 1,739,000 852, 110 886, 890 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 238,243 Depreciation expense 41,736 Rent expense 46,953 Amortization expenses-Patents 5,217 Utilities expense 19, 129 Gain on sale of equipment Net income 351,278 535,612 6,956 $ 542,568 Accounts receivable $ 19,400 increase Accounts payable $ 12,450 decrease Inventory 31,925 increase Salaries payable 3,950 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers $ 1.719,600 Payments for inventory 896,485 X Payments for salaries 287,193 X Payments for rent 46,953 Payments for utilities 19,129 Net cash provided by operating activities 2.969,360