Condensed financial data of Buffalo Company for 2020 and 2019 are presented below. BUFFALO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,830 Receivables 1,759 Inventory 1,580 Plant assets 1,900 Accumulated depreciation (1.190) Long-term investments (held-to-maturity) 1,280 $7,150 2019 $1,160 1.270 1.860 1.690 (1,150) 1.400 $6,230 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 210 1,410 1.910 2,400 $7.150 $920 250 1.520 1,730 1,810 $6,230 BUFFALO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6.930 Cost of goods sold 4,670 Gross margin 2,260 Selling and administrative expenses 940 Income from operations 1,320 Other revenues and gains Gain on sale of investments 80 Income before tax 1.400 Income tax expense 550 Net income 850 Cash dividends 260 Income retained in business 5590 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 a - signes. -15,000 or in parenthesises: (15,000)) BUFFALO COMPANY Statement of Cash Flows December 31, 2020 (Indirect Method) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to $ ( > > v C > omework Question 4 of 6 BUFFALO COMPANY Statement of Cash Flows December 31, 2020 (Indirect Method) Cash Flows from Operating Activities $ Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash Investing and Financing Activities T FFALO COMPANY ment of Cash Flows L, 2020 Indirect Method) Decrease in Accrued Liabilities Sale of Plant Assets Sale of Bonds Payable Sale of Investments Increase in Inventory Decrease in Accounts Payable Issuance of Common Stock for Plant Assets Net Income Depreciation Expense Redemption of Common stock Decrease in Inventory Increase in Accrued Liabilities Loss on Sale of Investments Increase in Accounts Payable Increase in Accounts Receivable Decrease in Accounts Receivable Purchase of Plant Assets D. Issuance of Capital Stock Payment of Cash Dividends Gain on Sale of Investments $