Condensed financial data of Novak Company for 2020 and 2019 are presented below.

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 - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Condensed financial data of Novak Company for 2020 and 2019 are presented below. NOVAK COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,790 $1,170 Receivables 1,780 1,310 1,580 1,900 1,900 1,720 Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) (1,180) (1,140) 1,310 1,420 $7,180 $6,380 $1,220 $880 Accounts payable Accrued liabilities 210 240 Bonds payable 1,380 1,550 1,930 1,660 Common stock Retained earnings 2,440 2,050 $7,180 $6,380 NOVAK COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,690 4,650 Cost of goods sold Gross margin 2,040 Selling and administrative expenses 930 Income from operations 1,110 Other revenues and gains Gain on sale of investments 90 Income before tax 1,200 Income tax expense 550 Net income 650 Cash dividends 260 Income retained in business $390 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. (15,000 NOVAK COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to $