21 Exercise 16-4 Indirect: Cash flows from operating activities LO P2 3.44 The following income statement and additional year-end information is provided. points Skipped $2,089,000 1,023, 610 1,065,390 eBook SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salarios expense $286,193 Depreciation expense 50,136 Rent expense 56, 403 Amortization expenses-Patents 6,267 Utilities expense 22.979 Gain on sale of equipment Net income Hint 421,970 645,412 B.356 $ 651,768 Ask Accounts receivable Inventory $18,000 Increase 21.125 increase Accounts payable Salarios payable 8,275 decrease 1,150 decrease Print Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities erences