Condensed financial data of Pronghorn Company for 2020 and 2019 are presented below. PRONGHORN COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,830 Receivables 1,750 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 $1,220 210 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 1,410 1,910 2,400 $7,150 $920 250 1,520 1,730 1,810 $6,230 PRONGHORN COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business $6,930 4,670 2,260 940 1,320 80 1,400 550 850 260 $590 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 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).) PRONGHORN COMPANY Statement of Cash Flows (Direct Method)