Condensed financial data of Windsor Company for 2020 and 2019 are presented below. WINDSOR COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,820 $1,140 Receivables 1,780 1,290 Inventory 1,590 1,860 Plant assets 1,870 1.710 (1,220) (1,150) Accumulated depreciation Long-term investments (held-to-maturity) 1,270 1,420 $7,110 $6,270 Accounts payable $1,170 $880 Accrued liabilities 210 240 Bonds payable 1,390 1,580 Common stock 1,930 1,680 Retained earnings 2,410 1,890 $7,110 $6,270 WINDSOR COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 WINDSOR COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,930 Cost of goods sold 4/750 Gross margin 2.180 Selling and administrative expenses 940 Income from operations 1,240 Other revenues and gains Gain on sale of investments 80 Income before tax 1,320 Income tax expense 540 Net income 780 1,320 Income before tax Income tax expense Net income 540 780 260 Cash dividends Income retained in business $520 Additional information: During the year, 570 of common stock was issubd 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-signes. -15,000 or in parenthesis es. (15,0001) WINDSOR COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Direct Method) Cash Flows from Operating Activities Cash Receipts from Customers Cash Paid for Merchandise $ Cash Paid for Selline/Administrative Expenses Cash Paid for Income Taxes Net Cash Provided by Operating Activities 940 Cash Flows from Investing Activities Cash Flows from Investing Activities Purchase of Plant Assets Sale of Investments Net Cash Provided by Investing Activities Cash Flows from Financing Activities Issuance of Capital Stock Payment of Cash Dividends Redemption of Bonds Payable Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Noncash investing and Financing Activities Issuance of Common Stock for Plant Assets