P12-2A. Statement of Cash Flows (Indirect Method) North Company's income statement and compara- tive balance sheets as of December 31 of 2019 and 2018 follow: Sales revenue. Cost of goods sold Wages expense.. Advertising expense. Depreciation expense.. Interest expense. Gain on sale of land Net loss. NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 $550,000 195,000 31,000 24,000 20,000 (25,000) 795,000 $(25,000) LO2 X