The following income statement and additional year-end information is provided. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cont of goods sold Gross profit Operating expenses salaries expense $245, 535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patenta 4,200 Utilities expense 18,125 Gain on sale of equipment Net income 361,660 475, 340 6,200 $ 491,540 $12.500 decrease 3,500 decrease Accounts payable Salaries payable $30,500 Increase 25,000 increase Accounts receivable Inventory Prepare the operating activities section of the statement of cash flows using the Indirect method. (Amounts to be deducted shou Indicated with a minus sign.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities Net Income $ 481.540 Adjustments to reconcile net income to net cash provided by operating activities saires payable 25,0 increase Inventory Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should Indicated with a minus sign.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities s Net Income 481,540 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expertise 44.200 Amortization expense Patents 4,200 Gain on sale of equipment (6.200) Increase in accounts receivable (30,500) Changes in current operating assets and liabilities Increase in inventory (25.000) Decrease in accounts payable (12.500) Decrease in salaries payable (3.500) olololo OOO ls 452,240 Net cash provided by operating activities MacBook Air F2 80 F3 000 ODO F4 > FS F7 FB F @ 2 $ 1 # 3 4 % 5 & 7 * o 6 9