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Condensed financial data of Larkspur Company for 2020 and 2019 are presented below. LARKSPUR COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,770 1,780 Receivables 2019 $1,170 1,300 1,880 1,710 (1,190) Inventory 1,570 Plant assets 1,870 (1,210) Accumulated depreciation Long-term investments (held-to-maturity) 1,290 1,430 $7,070 $6,300 $1,200 $900 200 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 1,430 250 1,580 1,730 1,860 2,380 1,840 $7,070 $6,300 LARKSPUR COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,820 Cost of goods sold 4,640 Gross margin 2,180 Selling and administrative expenses 910 Income from operations 1,270 Other revenues and gains Gain on sale of investments 80 Income before tax 1,350 550 Income tax expense Net income 800 260 Cash dividends Income retained in business $540 Additional information: 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 direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) LARKSPUR COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Direct Method) $ $ > > >