LO 2, 3,4, 5 Statement of Cash Flows: Indirect Method P5. Yong Company's income statement for the year ended December 31, 2014, and its comparative balance sheets as of December 31, 2014 and 2013, follow. Yong Company Income Statement For the Year Ended December 31,2014 ws from operating ctivities: $126,600 ows from investing ctivities: (525,800) ws from financing activities: $14,000 Sales Cost of goods sold Gross margin Operating expenses (including depreciation $1,609,000 1,127,800 $ 481,200 expense of $46,800) Income from operations Other income (expenses): 449,400 $ 31,800 Gain on sale of furniture and fixtures 7,000 (23,200) Interest expense Income before income taxes Income taxes expense Net income (16,200) S 15,600 4,600 11,000 Yong Company Comparative Balance Sheets December 31, 2014 and 2013 2014 2013 Assets $164,800 165,200 350,000 2,000 148,000 (42,000) $788,000 50,000 200,000 450,000 Cash Accounts receivable (net) Merchandise inventory Prepaid rent Furniture and fixtures Accumulated depreciation-furniture and fixtures Total assets 3,000 144,000 (24,000) $823,000 Liabilities and Stockholders' Equity 143,400 1,400 40,000 100,000 240,000 181,440 81,760 $788,000 $200,400 Accounts payable Income taxes payable Notes payable (long-term) Bonds payable Common stock, $20 par value Additional paid-in capital Retained earnings Total liabilities and stockholders' equity 4,400 20,000 200,000 200,000 121,440 76,760 $823,000 Continued)