Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020. is shown belo along with some other information Paddleboard Inc. Income Statement For Year Ended December 31, 2020 (eees) Revenues : Sales Cost of goods sold Gross Profit Expenses: Other expenses $ 710 Depreciation expense 7e Total operating expenses Profit from operations Income tax expense Profit $3,864 1,816 2,648 790 1,268 S18 $ 750 Paddleboard Inc. Post-Closing Trial Balance (ees) December 31 Account 2020 2019 Cash $2,580 $1,810 Receivables 2,770 2,050 Merchandise inventory 2,530 3,010 Property, plant and equipment 3,010 2,690 Accumulated depreciation 1,890 1,820 Investments 2.050 2,210 Accounts payable 1,890 1,410 Accrued liabilities 320 480 Bonds payable 1,90 2,370 Common shares 3,810 2,450 Retained earnings 3,890 3,240 Other information regarding Paddleboard Inc. and its activities during 2020: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. There were no sales of property, plant, and equipment assets during the year. 4. Investments were sold for cash at their original cost. Other information: 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 any deduction in cash and cash outflows as negative amounts. Enter amounts in PADDLEBOARD INC. Statement of Cash Flows For Year Ended December 31, 2020 (000s) Cash flows from operating activities PADDLEBOARD INC. Statement of Cash Flows For Year Ended December 31, 2020 (000s) Cash flows from operating activities: $ 0 Cash flows from investing activities: Cash flows from financing activities 0