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 $ 245,535 44,200 49,600 4,200 18,125 $ 1,828,000 991,000 837,000 361,660 475,340 6,200 $ 481,540 $ 30,500 increase Accounts payable 25,000 increase Salaries payable $ 12,500 decrease 3,500 decrease Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.

The following income statement and additional year-end information is provided. 12,500decrease3,500decrease Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign