Statement of Cash Flows (Indirect Method) The Towne Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 follow: TOWNE COMPANY Income Statement For the Year Ended December 31, 2013 Service Fees Earned Dividend and Interest Income $348,700 15,400 $364,100 Wages and Other Operating Expenses $313,500 Depreciation Expense 57,200 Franchise Amortization Expense 11,000 Loss on Sale of Equipment 7,700 Gain on Sale of Investments Net Loss (18,700) 370,700 $(6,600)