SKYSONG COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31,2020 AND 2019 2019 2020 $1,810 $1,120 Cash Receivables 1,790 1,330 1,570 Inventory 1,940 Plant assets 1,870 1,740 |(1,230) Accumulated depreciation (1,150) Long-term investments (held-to-maturity) 1,300 1,440 $7,110 $6,420 Accounts payable $1,220 $910 Accrued liabilities 200 260 Bonds payable 1,550 1,370 Common stock 1,860 1,740 Retained earnings 2,460 1,960 $7,110 $6,420 SKYSONG COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 $6,810 Sales revenue Cost of goods sold 4,680 Gross margin 2,130 Selling and administrative expenses 920 Income from operations 1,210 Other revenues and gains Gain on sale of investments 80 Income before tax 1,290 Income tax expense 530 760 Net income Cash dividends 260 $500 Income retained in business 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).) SKYSONG COMPANY Statement of Cash Flows (Direct Method) $ tA TA