Condensed financial data of Ayayai Company for 2020 and 2019 are presented below. Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings \begin{tabular}{rr} $1,220 & $910 \\ 210 & 260 \\ 1,420 & 1,530 \\ 1,890 & 1,710 \\ 2,530 & 1,850 \\ \hline$7,270 & $6,260 \\ \hline \hline \end{tabular} AYAYAI COMPANY INCOMESTATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,100 \( \begin{array}{lr}\text { Cost of goods sold } & 4,760 \\ { } } & 2,340\end{array} \) \( \begin{array}{lr}\text { Selling and administrative expenses } & 930 \\ { } } & 1,410\end{array} \) Other revenues and gains GainonsaleofinvestmentsIncomebeforetax801,490 \begin{tabular}{lr} Income tax expense & 550 \\ \cline { 2 - 3 } Net income & 940 \end{tabular} During the year, $80 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign es. -15,000 or in parenthesis es. (15,000)) AYAYAI COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Actlivities Net income 5 Adjustments to reconcile net income to Net Cash Used by Operatins Activities Sale of imestments 5 Decrease in Accrued Liabilities Decrease in Inventory Decrease in Inventory Net Decrease in Cash Net Decrease in Cash $ $ Condensed financial data of Ayayai Company for 2020 and 2019 are presented below. Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings \begin{tabular}{rr} $1,220 & $910 \\ 210 & 260 \\ 1,420 & 1,530 \\ 1,890 & 1,710 \\ 2,530 & 1,850 \\ \hline$7,270 & $6,260 \\ \hline \hline \end{tabular} AYAYAI COMPANY INCOMESTATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,100 \( \begin{array}{lr}\text { Cost of goods sold } & 4,760 \\ { } } & 2,340\end{array} \) \( \begin{array}{lr}\text { Selling and administrative expenses } & 930 \\ { } } & 1,410\end{array} \) Other revenues and gains GainonsaleofinvestmentsIncomebeforetax801,490 \begin{tabular}{lr} Income tax expense & 550 \\ \cline { 2 - 3 } Net income & 940 \end{tabular} During the year, $80 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign es. -15,000 or in parenthesis es. (15,000)) AYAYAI COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Actlivities Net income 5 Adjustments to reconcile net income to Net Cash Used by Operatins Activities Sale of imestments 5 Decrease in Accrued Liabilities Decrease in Inventory Decrease in Inventory Net Decrease in Cash Net Decrease in Cash $ $
