Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial statements for 2013: Monon Cable Television Company Income Statement For the Year Ended December 31, 2013 Sales $519,000 Less operating expenses: Royalties expense $240,000 Salaries expense 26,000 Utilities expense 83,000 Supplies expense 13,000 Rent expense 79,000 Depreciation expense 28,000 469,000 Income from operations 50,000 Other income (expenses): Gain on disposal of property, plant and equipment 800 Interest expense (1,800) (1,000) Income before taxes 49,000 Less: Income taxes expense 9,000 Net income 40,000