s The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit Operating expenses SONAD COMPANY Income Statement For Year Ended December 31 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 245,535 44,200 49,600 4,200 18,125 Cash flows from operating activities $ 30,500 increase Accounts payable 25,000 increase Salaries payable Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. $ 1,828,000 991,000 837,000 Statement of Cash Flows (partial) 361,660 475,340 6,200 481,540 Changes in current operating assets and liabilities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 12,500 decrease 3,500 decrease

The following income statement and additional year-end information is provided. Accounts receivable Inventory $30,500 increase Accounts payable 25,060 increase Salaries payable $12,500 decrease 3,500 decrease 3, 500 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with o minus sign