Please show all work and explain.

Condensed financial data of Buffalo Company for 2020 and 2019 are presented below. BUFFALO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1.780 Receivables 1.760 Inventory 1,620 Plant assets 1,910 Accumulated depreciation (1.210) Long-term investments (held-to-maturity) 1,330 $7.190 2019 $1,170 1,280 1,880 1,670 (1,160) 1,440 $6,280 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1.230 210 1,370 1.920 2,460 $7.190 $920 250 1,560 1,680 1,870 $6,280 BUFFALO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,820 BUFFALO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,820 Cost of goods sold 4,600 Gross margin 2,220 Selling and administrative expenses 910 Income from operations 1,310 Other revenues and gains Gain on sale of investments 80 Income before tax 1,390 Income tax expense 540 Net income 850 Cash dividends 260 Income retained in business $590 Additional information: During the year. $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15.000).) BUFFALO COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 !!! BUFFALO COMPANY Statement of Cash Flows (Direct Method) E PE and