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 Gain on Sale of Equipment Net Income 62,700 (17,600) 919,600 $121,000 Assets SWEET COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Cash $25,300 $34,100 Accounts Receivable 74,800 47,300 Inventory 194,700 138,600 Prepaid Insurance 9,900 12,100 Plant Assets 975,700 847,000 Accumulated Depreciation (207,900) (192,500)