Exercise $12-4($Algo$)$ Indirect: Cash flows from operating activities LO P$2$

The following income statement and additional year$-$end information is provided.

SONAD COMPANYIncome StatementFor Year Ended December $31$Sales$$$ $1,913,000$Cost of goods sold$937,370$Gross profit$975,630$Operating expenses$$Salaries expense$ $262,081$Depreciation expense$45,912$Rent expense$51,651$Amortization expenses$$Patents$5,739$Utilities expense$21,043386,426589,204$Gain on sale of equipment$7,652$Net income$$$ $596,856$

$$

Accounts receivable$ $33,000$ increaseAccounts payable$ $12,500$ decreaseInventory$22,000$ increaseSalaries payable$3,000$ decrease

Prepare the operating activities section of the statement of cash flows using the indirect method. The following income statement and additional yearend information is provided.

Accounts recetvahle. $\backslash$$ $33,$ Qab fincrease Accounts payable $\backslash (\backslash$$ $12,50\backslash )$ decrease Inventory $22,009$ increase Salaries payable. $3,$ beo decrease

Prepare the operating activities section of the statement of cash frows using the indirect method.

Note: Amounts to be deducted should be indicated with a minus sign.