Brief Exercise 14-27. Operating Cash Flows: Indirect Method Objective 2 Example 14.3 Roberts Company provided the following partial comparative balance sheets and the income statement for 20X2. Roberts Company Comparative Balance Sheets At December 31, 20X1 and 20X2 Current assets: Accounts receivable Inventories Current liabilities: Wages payable 20X1 20X2 $375,000 $291,250 150,000 160,000 350,000 257.500 Roberts Company Income Statement For the Year Ended December 31, 20X2 Revenues Gain on sale of equipment Cost of goods sold Depreciation expense Interest expense Net income $1,500,000 50,000 (960,000) (135,000) (5,000) $ 450,000