6 Exercise 12-18B Direct: Cash flows from operating activities LO P5 Using the following income statement and additional year-end Information Goints $2,249,000 1, 102, 010 1,146,990 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $308,113 Depreciation expense 53,976 Rent expense 60,723 Anortization expenses-Patents 6,747 Utilities expense 24,739 Gain on sale of equipment Net income 454,298 692,692 8,996 5 701,688 Accounts receivable Inventory $26,280 increase 15,200 increase Accounts payable Salaries payable $12,200 decrease 2,900 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (Partia Cash flows from operating activities