Statement of Cash Flows (Indirect Method) The Dairy Company's income statement and com- parative balance sheets as of December 31 of 2016 and 2015 follow: DAIRY COMPANY Income Statement For the Year Ended December 31, 2016 Sales revenue. $700,000 Wages and other operating expenses. . . . . . . . . Depreciation expense. . Goodwill amortization expense . . 95,000 . 7,000 . . . 10,000 36,000 5,000 635,000 $65,000