Statement of Cash Flows (Indirect Method) The Pruitt Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: PRUITT COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue 3770,000 Cost of Goods Sold 1450.000 Wages and other Operating Expenses 195,000 Depreciation Expense 22,000 Goodwill Amortization Expense 7.000 Interest Expense 5.000 Income Tax Expense 36,000 Loss on Bond Retirement 5000 720,000 Net Income 350,000 PRUITT COMPANY Balance Sheets Dec 31, 2019 Dec 31, 2018 Assets Cash $6,000 519,000 Accounts Receivable 43,000 28.000 inventory 101.000 131.000 Prepaid Expenses 12.000 11,000 Plant Assets 360,000 334,000 Accumulated Depreciation 187.000) (54,0001) Goodwill 49,000 50,000 Total Assets 5480,000 $480,000 Liabilities and Stockholders' Equity Accounts Payable 312.000 $28,000 Payable 3.000 7,000 Income Tax Payable 6,000 8000 Bonds Payable 60,000 100,000 252.000 244,000 Common Stock Retained Earnings 127,000 98,000 $480,000 549,000 Total Liabilities and Stockholders Equity o D. make 301 PM