The following income statement along with additional year-end information about changes in noncash current assets...
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Accounting
The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. SONAD COMPANY Income Statement For Year Ended December 31 Sales cost of goods sold Gross profit Operating expenses 2, 322, 000 1, 137, 780 1, 184, 220 Salaries expense Depreciation expense Rent expense Amortization expense-Patents utilities expense S318, 114 55, 728 62, 694 6, 966 25, 542 469, 044 715,176 9,288 724,464 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable Inventory Accounts payable Salaries payable $34,150 increase 23, 775 increase 8,175 decrease 4,200 decrease Required: Prepare only the cash nows from operating activities section of the statement of cash rlows using the indirect method (Amounts to be deducted should be indicated with a minus sign.)
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