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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				$	2,262,000
Cost of goods sold					1,108,380
Gross profit					1,153,620
Operating expenses
Salaries expense	$	309,894
Depreciation expense		54,288
Rent expense		61,074
Amortization expensesPatents		6,786
Utilities expense		24,882			456,924
					696,696
Gain on sale of equipment					9,048
Net income				$	705,744

Accounts receivable	$	21,600		increase		Accounts payable	$	13,975		decrease
Inventory		16,550		increase		Salaries payable		4,100		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.)

24,882 Gain on sale of equipment Net income 456,924 696,696 9,948 $ 705,744 Accounts receivable Inventory $21,600 increase Accounts payable 16,550 increase Salaries payable $13,975 decrease 4,100 decrease Prepare the operating activities section of the statement of cash flows using the indirect method (Amou 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 OLL $

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