Using the following income statement and additional year-end information. SONAD COMPANY Income Statement For Year Ended December 31 Sales $2,231,000 Cost of goods sold 1,093,190 Gross profit 1,137,810 Operating expenses Salaries expense $305,647 Depreciation expense 53,544 Rent expense 60,237 Amortization expenses-Patents 6,693 Utilities expense 24,541 450,662 Gain on sale of equipment Net income $ 687,148 8,924 696,072 Accounts receivable Inventory $37,850 increase 22,800 increase Accounts payable Salaries payable $10,600 decrease 4,250 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities Amortization expenses-Patents $ 6,693 Depreciation expense 53,544 Gain on sale of equipment (8,924) Increase in Accounts receivable (37,850) Increase in Accounts receivable (22,800) Decrease in Accounts payable (10,600) Decrease in Accounts payable (4,850) $ (24,787)