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.

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SONAD COMPANY Income Statement For Year Ended December 31,2015 Sales Cost of goods sold Gross profit.... $1,828,000 991,000 837,000 Salaries expense . . Depreciation expense Rent expense ....$245,535 44,200 49,600 4,200 18,125 tion expenses Patents 361,660 475,340 6,200 $ 481,540 Utilities expense Gain on sale of equipment . Net income Accounts receivable... $30,500 increase Accounts payable . 25,000 increase Salaries payable $12,500 decrease 3,500 decrease Inventory