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. Prepare a statement of cash flows

ormation at De Paddleboard Inc. Income Statement For Year Ended December 31, 2020 (2005) Revenues: Sales Cost of goods sold Gross Profit Expenses: Other expenses $ 640 Depreciation expense 20 Total operating expenses Profit from operations Income tax expense Profit $ 3,194 1,466 1,728 660 1,068 658 $ 410 Paddleboard Inc. Post-closing Trial Balance Codes) December 31 Account 2020 2019 $1,880 $1,740 Receivables 2700 1988 Herchandise inventory 2460 2940 1 of 5 Next > Saved Common shares Retained earnings 2,940 3,820 2,680 3,430 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. Required: Using the information provided, prepare a statement of cash flows (applying the inc 2020. (List any deduction in cash and cash outflows as negative amounts. Enter ces 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 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 sed OK int ndes Cash flows from investing activities: 0 Cash flows from financing activities 1 of 5 Next > Paddleboard Inc. Post-Closing Trial Balance (2005) December 31 Account 2020 2019 Cash $1,880 $1,740 Receivables 2,700 1,989 Merchandise inventory 2,460 2,940 Property, plant and equipment 2,940 2,620 Accumulated depreciation 1,300 1,280 Investments 1,980 2,140 Accounts payable 1,300 1,250 Accrued liabilities 320 480 Bonds payable 2,280 2,300 Common shares 2,940 2,680 Retained earnings 3,820 3,430 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