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Using the following income statement and additional year-end information, prepare the operating activi- ties section of the statement of cash flows using the indirect method. Exercise 16-4 Indirect: Cash flows from operating activities P2 SONAD COMPANY Income Statement For Year Ended December 31 $1,828,000 991,000 837,000 Sales Cost of goods sold Gross profit... Operating expenses Salaries expense Depreciation expense Rent expense Amortization expense-Patents Utilities expense $245,535 44,200 49,600 4,200 18.125 Selected Year-End Balance Sheet Data 361,660 475,340 6.200 $ 481,540 Accounts receivable. Inventory Accounts payable.... Salaries payable $30,500 increase 25,000 Increase 12,500 decrease 3,500 decrease Gain on sale of equipment Net Income