Condensed financial data of Blue Company for 2020 and 2019 are presented below. BLUE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 $1.830 $1.140 Cash 1.720 1.280 Receivables 1610 1.900 Inventory 1870 1690 Plant assets (1.210) (1,190 Accumulated depreciation 1.270 1410 Long-term investments (held-to-maturity $7,090 $6,230 $1.230 5910 Accounts payable 200 250 Accrued liabilities 2010 1540 Receivables 1,720 1,280 Inventory 1.610 1.900 Plant assets 1,870 1,690 Accumulated depreciation (1,210) (1.190) Long-term investments (held-to-maturity) 1.270 1,410 $7,090 $6,230 $1.230 $910 200 250 Accounts payable Accrued liabilities Bonds payable Common stock 1,410 1.540 1,880 1.710 Retained earnings 2370 1,820 $7,090 $6230 BLUE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Salerno $6 BRD 20 4 E R Question 5 of 40 INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,880 Cost of goods sold 4,680 Gross margin 2,200 Selling and administrative expenses 930 Income from operations 1,270 Other revenues and gains Gain on sale of investments 80 Income before tax 1,350 Income tax expense 540 Net income 810 Cash dividends 260 Income retained in business $550 Additional information: During the year, $70 of common stock was issued in exchange for plant a Prepare a statement of cash flows using the indirect method. (Show amou. parenthesise (15 ml Additional information: During the year. $70 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 e-signes -15,000 or in parenthesis es. (15,0001) BLUE COMPANY Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to