Zoom Link to Final Exam (Join M Final assessment (chs 24,94 The following income statement and information about changes in noncash current assets and cument liabilities are reported. SEIF COMPANY Income Statement Sales For Year Ended December 31, 2015 Cost of goods sold $2,032,000 995,680 Gross profit 1,036,320 Operating expenses Salaries expense $278,384 Depreciation expense 48,768 Rent expense 54,864 Amortization expenses-Patents 6,096 Utilities expense 22,352 410,464 625,856 8,128 Gain on sale of equipment $ 633,984 Net income Changes in current asset and current liability accounts for the year that relate to operations follow Accounts receivable Inventory $ 10,550 increase 35,225 increase Accounts payable Salaries payable $9.500 decrease 5,850 decrease Use the direct method to prepare only the cash provided or used by operating activities section of the statement of cash flows for this company. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities Machop