2020 2019 Cash $1,760 $1.180 1.780 1.280 1,610 1.920 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 1,880 1,660 (1.220) (1,190) 1,310 1.400 $7.120 $6.250 $1,170 $880 190 240 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 1,390 1.540 1,910 1,730 2.460 1,860 $7.120 $6,250 ORIOLE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,020 Cost of goods sold 4.780 Gross margin 2.240 Selling and administrative expenses 910 Income from operations 1.330 Other revenues and gains Gain on sale of investments Income before tax 1.400 Income tax expense Net income Cash dividends 260 Income retained in business $600 70 540 860 Additional information: During the year, 580 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepere a statement of cash flows using the indirect method./Show amounts that decrease cash flow with either a sign ...-15.000 or in ORIOLE COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Activities Net Income $ 800 Adjustments to reconcile net income to Net Increase in Cash Depreciation Expense $ 20 Gain on Sale of investments -80 Increase in Accounts Payable -480 Decrease in Accrued Llabilitles 310 Decrease in Accounts Payable -50 Net Income 820 -80 Cash Flows from Investing Actlyitles 220 Net Cash Used by Investing Activitles Payment of Cash Dividends -260 Redemption of Bonds Payable 160 140 Net Increase in Cash 20 100 Redemption of common stock - 150 -260 Decrease in Accrued Liabilitles 310 Decrease in Accounts Payable DO! -50 Net Income 820 -80 Cash Flows from Investing Acalvitles 220 Net Cash Used by investing Activities Payment of Cash Dividends -260 Redemption of Bonds Payable 160 140 Net Increase in Cash 20 100 Redemption of common stock - 150 -260 -310 580 1180 Net Income $ 1760