Exercise $16-20$B $($Algo$)$ Direct: Cash flows from operating activities LO P$5$

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

SONAD COMPANY

Income Statement

For Year Ended December $31,\{\begin{array}{ccc}\text{:}[\text{\$}2,& 317,& 000]\\ 1,& 135,& 330\\ 1,& 181,& 670\end{array}$

Sales

Cost of goods sold

Gross profit

Operating expenses

Salaries expense

Depreciation expense

Rent expense

Amortization expenses$-$Patents

Utilities expense

Gain on sale of equipment

Net income

$$36,300$ increase Accounts payable

$$15,950$ decrease

$4,400$ decrease

Accounts receivable

$28,325$ increase Salaries payable

decrease

Prepare the operating activities section of the statement of cash flows using the direct method.

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

$\backslash$table$[[$Statement of Cash Flows $($Partial$)],[$Cash flows from operating activities,$],[,],[,],[,],[,],[,],[,],[,],[,],[,$$