Statement of Cash Flows (Direct Method) North Compa North company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow. NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770.000 Cost of Goods Sold $550.000 Wages Expense 195.000 Advertising Expense 31,000 Depreciation Expense 24,000 Interest Expense 20.000 Gain on Sale of Land (25,000) 795,000 Net Loss $425.000) NORTH COMPANY Balance Sheets Dec. 31. 2019 Dec 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable 42.000 49.000 Inventory 107.000 115,000 Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and Stockholders' Equity Accounts Payable $19.000 $25,000 Interest Payable 6,000 Bonds Payable 210,000 Common Stock 245,000 245.000 Retained Earnings 69,000 94,000 Treasury Stock (30,000) Total Liabilities and Stockholders' Equity $519,000 $364,000 During 2019, North sold land for $70,000 cash that had originally cost $45,000. North also purchased equipment stock for cash, and issued bonds payable for cash. Accounts payable relate to merchandise purchases. Required . Calculate the change in cash that occurred during 2019. - Prepare a statement of cash flows using the direct method. Change in Cash during 2019 $ Use a negative sign with cash outflow answers