The following income statement and information about changes in noncash current assets and current liabilities are reported SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $2,255,000 1,104,950 1,150,050 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $308,935 54,120 60,885 6,765 24,805 455,510 694,540 9,020 $ 703,560 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 $33,350 increase Accounts payable 12,575 increase Salaries payable $11,975 decrease 2,300 decrease