exercise 12-4 indirect: cash flows from operating activities LO P2

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Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end information is provided. "SONAD COMPANY Income Statement For Year Ended December 31 $2,319,000 1,136,310 1,182,690 Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $317, 703 55,656 62,613 6, 957 25,509 468,438 214.252 9,276 723,528 Gain on sale of equipment Net income $ Accounts receivable Inventory $28,800 increase 20,300 increase Accounts payable salaries payable $9,775 decrease 1.300 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 Accounts receivable Inventory $28,800 increase 20,300 increase Accounts payable salaries payable $9,775 decrease 1,300 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amoi indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash - Changes in current operating assets and liabilities