7 T El] / eztomheducationcom Ci / o \\ I F3 5' Mid-Term Exam # 1(Summer 2021) 0 Saved Help Save 3. Exit Submit Check my work 16 Income Statement: For Year Ended December 31 sales $1,328,000 Cost of goods sold 991, 000 Gross profit: 837,000 3.33 Operating expenses points Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49 , 600 Amortization expensesPatents 4,200 Utilities expense 18,125 361,660 475 , 340 Gain on sale of equipment 6, 200 El \"at \"we M eBook @ Accounts receivable $30 ,500 increase Accounts payable $12, 500 decrease Hint Inventory 25,000 increase Salaries payable 3,500 decrease 9 Prepare the operating activities section of the statement of cash ows using the direct method. (Amounts to be deducted should be F""' indicated with a minus sign.) References Cash ows from operating activities _