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Condensed financial data of Teal Company for 2020 and 2019 are presented below. TEAL COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019

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Condensed financial data of Teal Company for 2020 and 2019 are presented below. TEAL COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $ 1,840 $1,170 Receivables 1,730 1,310 Inventory 1,580 1,880 1,910 1,700 Plant assets Accumulated depreciation Long-term investments (held-to-maturity) (1,210) (1,170) 1,310 1,420 $7,160 $6,310 Accounts payable $ 1,190 $ 900 Accrued liabilities 210 260 Bonds payable 1,400 1,580 Bonds payable 1,400 1,580 Common stock 1,880 1,720 Retained earnings 2,480 1,850 $7,160 $6,310 TEAL COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,000 Cost of goods sold 4,710 Gross margin 2,290 940 Selling and administrative expenses Income from operations Other revenues and gains 1,350 Gain on sale of investments 80 Income before tax 1,430 1.430 540 Income before tax Income tax expense Net income Cash dividends Income retained in business 890 260 15620 $630 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 og -15,000 or in parenthesis e$. (15,000)) TEAL COMPANY Statement of Cash Flows (Indirect Method) TEAL COMPANY Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to > > > > >

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