The following income statement and information about changes in noncash current assets and current liabilities are reported.

Required:

Prepare only the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $1,614,000 790,860 823,140 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $221,118 38,736 43,578 4,842 17,754 326,028 497,112 6,456 $ 503,568 Gain on sale of equipment Net income Changes in current asset and current liability accounts for the year that relate to operations follow Accounts receivable Inventory $22,250 increase Accounts payable 29,300 increase Salaries payable $13,675 decrease 2,100 decrease