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Can you help? CoursHeroTranscribedText: SONAD COMPANY Income Statement For Year Ended December 31 Sales $2,...

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Accounting

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CoursHeroTranscribedText: SONAD COMPANY Income Statement For Year Ended December 31 Sales $2, 278,809 Cost of goods sold 1, 116, 229 Gross profit 1, 161, 789 Operating expenses Salaries expense $312,086 Depreciation expense 54,672 Rent expense 61, 596 Amortization expenses-Patents 6,834 Utilities expense 25,958 460, 156 781, 624 Gain on sale of equipment 9,112 Net income 710,736 Accounts receivable $39,060 increase Accounts payable $14, 825 decrease Inventory 22,975 increase Salaries payable 5,909 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.) 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

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