CRANE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2019 2020 $1,780 $1,170 Cash Receivables 1,760 1.280 Inventory 1,620 1,880 Plant assets 1.910 1,670 (1.210) (1.160) Accumulated depreciation Long-term investments (held-to-maturity) 1,330 1,440 $7.190 $6,280 $1,230 $920 Accounts payable Accrued liabilities Bonds payable 210 250 1,370 1.560 Common stock 1.920 1.680 Retained earnings 2.460 1,870 $7.190 $6,280 CRANE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,820 Cost of goods sold 4,600 Gross margin 2.220 Selling and administrative expenses 910 1,310 20 1,390 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 540 850 260 $590 Additional Information: During the year, 570 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 o sign 6.3. 15,000 or in parenthesis es. (15,000).) CRANE COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Direct Method) Cash Flows from Operating Activities $ Cash Paid for Selling/Administrative Expenses Cash Paid for Income Taxes Net Cash Provided by Operating Activities : $