20.00 points Exercise 16-4 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 $1,886,000 924,140 Gross proft Operating expenses 961,860 Salaries expense Depreciation expense Rent expense Amortization expenses- $258,382 45,264 50,922 5,658 Patents Utilities expense 20,746 380,972 580,888 7,544 Gain on sale of equipment Net income s 588,432 Changes in current asset and current liability accounts for the year that relate to operations follow. Accounts payable $19,450 increase receivable Inventory $10,200 decrease 32,825 increase Salaries payable 4,700 decrease