Answer Happy

Using the following income statement and additional year-end
information.
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.)
Using the following income statement and additional year-end information. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $264,547 Depreciation expense 46,344 Rent expense 52,137 Amortization expenses-Patents 5,793 Utilities expense 21,241 $1,931,000 946, 190 984, 810 Gain on sale of equipment Net income 390,062 594,748 7,724 $ 602,472 Accounts receivable Inventory $47,400 increase 39,075 increase Accounts payable Salaries payable $15,800 decrease 3,100 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