Skysong Company has not yet prepared a statement of cash flows for the 2020 fiscal year. Comparative balance sheets as of December 31, 2019 and 2020, and a statement of income and retained earnings for the year ended December 31, 2020, are presented as follows.

SKYSONG COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2020 ($000 OMITTED)
Sales revenue				$3,830
Expenses
Cost of goods sold		$1,190
Salaries and benefits		740
Heat, light, and power		80
Depreciation		80
Property taxes		20
Patent amortization		30
Miscellaneous expenses		10
Interest		30		2,180
Income before income taxes				1,650
Income taxes				825
Net income				825
Retained earningsJan. 1, 2020				320
				1,145
Stock dividend declared and issued				605
Retained earningsDec. 31, 2020				$540

SKYSONG COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31 ($000 OMITTED)
Assets		2020			2019
Current assets
Cash		$345			$90
U.S. Treasury notes (available-for-sale)		10			50
Accounts receivable		760			500
Inventory		720			550
Total current assets		1,835			1,190
Long-term assets
Land		160			70
Buildings and equipment		920			590
Accumulated depreciationbuildings and equipment		(190	)		(110	)
Patents (less amortization)		80			110
Total long-term assets		970			660
Total assets		$2,805			$1,850
Liabilities and Stockholders Equity
Current liabilities
Accounts payable		$436			$320
Income taxes payable		44			30
Notes payable		310			310
Total current liabilities		790			660
Long-term notes payabledue 2022		180			180
Total liabilities		970			840
Stockholders equity
Common stock		1,295			690
Retained earnings		540			320
Total stockholders equity		1,835			1,010
Total liabilities and stockholders equity		$2,805			$1,850

Prepare a statement of cash flows using the direct method. Changes in accounts receivable and accounts payable relate to sales and cost of goods sold. (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

($000 Omitted)

		$

	$

$