The following income statement and information about changes in noncash current assets and current liabilities are reported. Sonad Company Income Statement For Year Ended December 21, 2017 Sales $1,828,000 Cost of Goods Sold 991,000 Gross Profit 837,000 Operating Expenses Salaries Expense $245,535 Depreciation Expense 44,200 Rent Expense 49,600 Amortization Expense-Patents 4,200 Utilities Expense 18,125 361,660 Gain on Sale of Equipment 6,200 475,340 Net Income 481,540 Changes in current asset and current liability accounts for the year that relate to operations follow. Accounts Receivable Inventory $30,500 increase Accounts Payable $12,500 decrease 3,500 decrease 25,000 increase Salaries Payable Prepare only the cash flows from operating activities section of the statement of cash flows using the indirect method.
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