Condensed financial data of Sage Company for 2017 and 2016 are presented below SAGE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 $1,820 1,730 1,590 1,940 2016 $1,130 1,280 1,870 1,690 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) (1,220) (1,180) 1,300 1,450 $7,160 $6,240 $1,200 190 1,430 1,930 2,410 $7,160 $920 230 1,530 1,710 1,850 $6,240 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings SAGE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains $6,840 4,630 2,210 930 1,280 Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 90 1,370 550 820 260 $560 Additional information: During the year, $60 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017 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). in parenthesis e.o. (15,000).) SAGE COMPANY Statement of Cash FlowS Direct Meth