Statement of Cash Flows (Indirect Method) The Sweet Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 are presented below: SWEET COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $1,040,600 Cost of Goods Sold $557,700 Wages Expense 223,300 Depreciation Expense 66,000 Insurance Expense 14,300 Interest Expense 13,200 Income Tax Expense 62,700 Gain on Sale of Equipment (17,600) 919,600 Net Income $121,000