P16-41B Preparing the statement of cash flows-indirect method with non-cash transactions The 2018 income statement and comparative balance sheet of Sweet Valley, Inc. follow: SWEET VALLEY, INC Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: 445,000 203,200 241,800 Salaries Expense Depreciation Expense-Plant Assets Other Operating Expenses Total Operating Expenses $ 77,400 14,500 10,100 102,000 139,800 Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) 8,200 (21,100) Net Income Before Income Taxes Income Tax Expense Net Income (12,900) 126,900 19,400 S 107,500