Chapter 12 1 2.5 points Saved Exercise 12-4 (Algo) Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end information is provided. BONAD COMPANY Help Save & Exit Submit Check my work Income Statenent For Year Ended December 31 Sales $1,924,000 eflook Cost of goods sold Gross profit 942,760 981,240 Hint Operating expenses Salaries expense Print Depreciation expense $263,588 46,176 Rent expense References Gain on sale of equipment Not incone Accounts receivable Inventory Amortization expenses-Patents Utilities expense 51,948 5.772 21,164 300,648 592,592 7,696 $ 600,200 $ 19,400 increase Accounts payable 11,125 increase Salaries payable $ 11,300 decrease 4,650 decrease 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 Update