IVANHOE INC.

INCOME STATEMENT

FOR THE YEAR ENDING DECEMBER $31,2020$

Additional information:

Dividends in the amount of $$6,100$ were declared and paid during $2020.$

Depreciation expense and amortization expense are included in operating expenses.

No unrealized gains or losses have occurred on the investments during the year.

Equipment that had a cost of $$20,100$ and was $70\%$ depreciated was sold during $2020.$ 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$-$sign e$.$g$.-15,000$ or in parenthesis e$.$g$.(15,000$Ivanhoe Inc., a greeting card company, had the following statements prepared as of December $31,2020.$