Rocket Company Income Statement For the Year Ended December 31, 2012 Sales $500,000 Less expenses: Cost of goods sold $330,000 Selling and administrative expenses 90,000 (includes depreciation of S15,000) Interest expense 5.000 Total expenses 425,000 Income before taxes $ 75,000 Income tax expense 30,000 Net income 45.000 Page 4/4 Required: Prepare the statement of cash flows for 2012. (Present cash flows from operations using the indirect approach.)