Statement of Cash Flows (Indirect Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 and 2012 are shown below WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 $889,000 Sales Revenue Cost of Goods Sold $602,000 Wages Expense 120,400 Insurance Expense 11 200 Depreciation Expense 23,800 Interest Expense 12,600 40,600 810,600 ncome Tax Expense $78,400 Net Income