Key Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2010 and 2020, is shown below with some other information, Loek Key The. Income statement For Year Ended December 31, 2020 (000) Revenues Sales Cost of goods sold Gross Profit Expenses Other expenses S 640 240 Depreciation expense Total expenses LOSS $3,320 2.720 500 380 280 $ Lock & Key Inc. Post-Cloning Trial Balance (0000) December 31 Account 2020 2019 Cash $ 2,360 $1,280 Receivables 2,110 1,460 Merchandise inventory 2,060 2,390 Property, plant and equipment 3,740 3,980 Accumulated depreciation 1,460 1,400 Accounts payable 1,460 1,100 Accrued liabilities 240 360 Bonds payable 1,850 2,000 Common shares 3,104 1,770 Retained earnings 2,156 2,480 ther information regarding Lock & Key Inc. and its activities during 2020: balancAS Other information regarding Lock & Key Inc. and its activities during 2020: 1. Assume all accounts have normal balances. 2. Cashonds were declared and paid during the year. 3. E as sold for cash equal to its book value. Othellation: a. All accounts payable balances result from merchandise purchases. b. All sales are credit sales. c. All credits to accounts receivable are receipts from customers. d. All debits to accounts payable result from payments for merchandise. e. All other expenses are cash expenses. Required: Prepare a statement of cash flows for 2020 using the direct method to report cash inflows and outflows from operating activities. (List any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar.) LOCK & KEY INC. Statement of Cash Flows For Year Ended December 31, 2020 (000s) Cash flows from operating activities: $ 0 Rae Required: Prepare a statement of cash flows for 2020 using the direct method to report cash inflows and outlows from operating achiew any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar LOCK & KEY INC Statement of Cash Flows For Year Ended December 31, 2020 (0005) Cash flows from operating activities: $ 0 Cash flows from investing activities