Nash Company has not yet prepared a statement of cash flows for the 2020 fiscal year. Comparative balance sheets as of December 31, 2019 and 2020, and a statement of income and retained earnings for the year ended December 31, 2020, are presented as follows. NASH COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2020 ($000 OMITTED) Sales revenue $3,770 Expenses Cost of goods sold $1,200 Salaries and benefits 740 Heat, light, and power 80 Depreciation 90 Property taxes 20 Patent amortization 20 Miscellaneous expenses 10 Interest 30 2,190 Income before income taxes 1,580 Income taxes 790 Net income 790 Retained earnings-Jan. 1, 2020 280 1,070 Stock dividend declared and issued 550 Retained earnings-Dec. 31, 2020 $520 2019 $70 10 50 510 NASH COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31 ($000 OMITTED) Assets 2020 Current assets Cash $217 U.S. Treasury notes (available-for-sale) Accounts receivable 800 Inventory 730 Total current assets 1,757 Long-term assets Land 150 Buildings and equipment 930 Accumulated depreciation-buildings and equipment (220) Patents (less amortization) 100 Total long-term assets 960 Total assets $2,717 560 1,190 70 580 (130) 120 640 $1,830 $418 $330 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Notes payable Total current liabilities Long-term notes payable-due 2022 39 30 290 290 747 650 220 220 220 220 967 870 Long-term notes payable-due 2022 Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 680 1,230 520 280 1,750 960 $2,717 $1,830 NASH COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 ($000 Omitted) Cash Flows from Operating Activities A Cash Receipts from Customers Cash Payment for Property Taxes Cash Payment for Income Taxes Cash Payment for Miscellaneous Cash Payment for Salaries and Benefits Cash Payment for Heat, Light, and Power Purchase of Land Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities Net Increase in Cash HA