Using the fotlowing income statement and additional year-end information, $1,769,000 866,810 902, 190 BONAD COMPANY Income Statement For Year Inded December 31 Salen cost of goods sold Cross profit Operating expenses Salaries expense $242,353 Depreciation expense 42,456 Rent expense 47.763 Amortization expenses-Patents 5.307 Utilities expense 19.459 357.338 544,852 7,076 $ 551,928 Gain on sale of equipment Net income Accounts receivable Inventory $36,600 increase 28,925 increase Accounts payable salaries payable $15,025 decrease 1,950 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) 1,700,000 Statement of Cash Flows (Partial) Cash flows from operating activities Cash received from customers S Cash paid for inventory Cash paid for salaries Cash paid for rent Cash paid for utilities $ Net cash provided by operating activities 1,769,000