(Spring BusinessCourse Mail-Sabija Bobeski - Outlook Ch13 HW2 [myBusinessCourse] Return to course My Subscriptions P13-2B.Stat Question 3 Not complete Marked out of 29.00 Flag question Statement of Cash Flows (Indirect Method) The Lowe Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 are presented bel LOWE COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $925,000 Cost of Goods Sold $490,000 Wages Expense 207,000 Depreciation Expense 62,000 Insurance Expense 17,000 Interest Expense 12,000 Income Tax Expense $7,000 Gain on Sale of Equipment (16,000) 829,000 Net Income $96,000 LOWE COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets Cash Accounts Receivable $25,000 68,000 $33,000 51,000 Inventory 177,000 126,000 Prepaid Insurance 8,000 11,000 Plant Assets 887,000 763,000 Accumulated Depreciation (191,000) (175,000) Total Assets $974,000 $809,000