Condensed financial data of Gorni Company appear below: GORNI COMPANY Comparative Balance Sheet December 31 2020 2019 Assets Cash $70.000 $35.000 Accounts receivable 82,000 53,000 Inventories 200.000 197.000 Prepaid expenses 25,000 Plant assets 310.000 250.000 Accumulated depreciation (65.000 (60.000 Total $616,000 $500,000 Liabilities and Stockholder's Equity Accounts payable $85.000 $75,000 Accrued expenses payable 22.000 24,000 Bonds payable 130.000 150.000 Common stock 245.000 170.000 Retained earnings 134,000 81.000 Total $616,000 $500,000 GORNI COMPANY GORNI COMPANY Income Statement For the Year Ended December 31, 2020 Sales $480,000 Less: Cost of goods sold $290.000 Operating expenses (exculding depreciation) 60.000 Depreciation expense 17.000 Income taxes 15.000 Interest expense 13.000 Loss on disposal of plant assets 8.000 403.000 Net income $77.000 Additional information: 1. New plant assets costing $85.000 were purchased for cash in 2020. 2. Bonds with a face value of $20.000 were redeemed and Common Stock of $75,000 was issued. These were each separate transactions. Your answer is partially correct. Prepare the Financing section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis eg. (15,000).) GORNI COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash Flows from Financing Activities Issuance of Common Stock 75000 Redemption of Bonds - 20000 Payment of Cash Dividends Net Cash Provided by Financing Activities eTextbook and Media