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

Changes in current asset and current liability accounts for the year that relate to operations follow.

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.)

value: 5.00 points Exercise 12-4 Indirect: Cash flows from operating activities LO P2 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, 2015 Sales Cost of goods sold $ 1,828,000 991,000 837,000 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense $ 245,535 44,200 49,600 4,200 18,125 Utilities expense 361,660 475,340 6,200 Gain on sale of equipment Net income S 481,540 Changes in current asset and current liability accounts for the year that relate to operations follow Accounts receivable30,500 increase Accounts payable $12,500 decrease Inventory 25,000 increase Salaries payable 3,500 decrease