Condensed financial data of Sandhill Company for 2020 and 2019 are presented below. SANDHILL COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,770 $1,160 Receivables 1,740 1,280 Inventory 1,620 1,880 Plant assets 1,930 1,670 Accumulated depreciation (1,250) (1,190) Long-term investments (held-to-maturity) 1,290 1,420 $7,100 $6,220 Accounts payable $1,220 $920 Accrued liabilities 190 240 Bonds payable 1,370 1,570 Common stock 1,930 1,730 Retained earnings 2,390 1,760 $7,100 $6,220 SANDHILL 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 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).) SANDHILL COMPANY Statement of Cash Flows Adjustments to reconcile net income to eTextbook and Media SANDHILL COMPANY Statement of Cash Flows (Indirect Method) $ O $