HUSKY COMPANY Income Statement For Year Ended December 31, 2016 $1,270,000 Sales revenue.. Cost of goods sold... Wages expense...... Insurance expense.... Depreciation expense..... Interest expense. Income tax expense....... Net income.... $860,000 172,000 16,000 34,000 18,000 58,000 MSC.......... 1.158,000 $ 112,000 HUSKY COMPANY Balance Sheets Dec 31, 2016 Dec. 31, 2015 Assets Cash...... Accounts receivable.. Inventory... Prepaid insurance.................. Plant assets............ Accumulated depreciation Total assets........... $ 22,000 82,000 180,000 10,000 500,000 (136,000) $658.000 $ 10,000 64,000 120,000 14,000 390,000 (102.000) $496.000 Liabilities and Stockholders' Equity Accounts payable...... Wages payable........ Income tax payable..... Bonds payable.... Common stock......... Retained earnings..... Total liabilities and stockholders' equ $ 14,000 18,000 14,000 260,000 180,000 172.000 $658.000 $ 20,000 12,000 16,000 150,000 180,000 118,000 $496.000 CET 1 Cash dividends of 558,000 were declared and paid during 2016. Plant assets were purchased for cash. Bonds were issued for cash. Bond interest is paid semiannually on June 30 and December 31. Accounts payable relate to merchandise purchases. Required Prepare the operating section of cash flow using the indirect method. Interest expense or income is always operating