The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...

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The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,271,000 Cost of goods sold 1,112,790 1,158,210 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $ 311,127 54,504 61,317 6,813 24,981 458,742 699,468 9,084 $ 708,552 Accounts receivable Inventory $ 39,300 increase Accounts payable 20,400 increase Salaries payable $ 14,775 decrease 1,200 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 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 The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,271,000 Cost of goods sold 1,112,790 1,158,210 Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $ 311,127 54,504 61,317 6,813 24,981 458,742 699,468 9,084 $ 708,552 Accounts receivable Inventory $ 39,300 increase Accounts payable 20,400 increase Salaries payable $ 14,775 decrease 1,200 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 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

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