Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, is shown below along with some other information Paddleboard Inc. Income Statement For Year Ended December 31, 2020 (0) Revenues Sales Cost of goods sold Gross Profit Expenses: Other expenses 5 710 Depreciation expense 20 Total operating expenses Profit from operations Income tax expense Profit 53,864 1,816 2,048 780 1,268 518 5 750 Paddleboard Inc. Post-Closing Trial Balance (2005) December 31 Account 2020 2019 Cash $2,50 $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 2,650 2,210 Accounts payable 1,890 1,410 Accrued liabilities 320 480 Bonds payable 1,940 2,370 Common shares 3,010 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 V Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31 2020. (List any deduction in cash and cash outflows os negative amounts. Enter amounts in thousands, not in dollar.) Assignment (5Qs) Saved PADDLEBOARD INC. Statement of Cash Flows For Year Ended December 31, 2020 (000s) Cash flows from operating activities Adjustments to reconcile net income to net cash inflows from operating activities $ 0 Cash flows from investing activities 0 Cash flows from financing activities