Exercise 6 - Preparation of statement of cash flows (15 points) Please answer the work sheet format provided in the booklet. The balance sheets for Pirelli Company showed the following information. Additional information concerning transactions and events during 2020 are presented below. Pirelli Company Balance Sheet (In thousands) $ Cash Accounts receivable (net) Inventory investments Plant assets Accumulated depreciation December 31 2020 2019 800 $600 2.250 2.100 1,600 1.200 200 1,600 1,200 (600) (455) $5,650 $4.845 Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings $ 750 330 800 1,500 2.270 $5.650 $ 1,200 520 1,000 1,400 725 $4.845 Additional data: 1. Net income for the year 2020, $2.145. 2. Depreciation on plant assets for the year, $145. 3. Sold the investments for $150 and the loss on the sale of the investments was $50. 4. Paid dividends of $600. 5. No plant assets were sold. 6. $100 of common stock was issued in exchange for plant assets. Instructions Using the format provided on the answer booklet, prepare a statement of cash flows (using the indirect method) for 2020 for Pirelli Company