View Policies Current Attempt in Progress Condensed financial data of Grouper Company for 2020 and 2019 are presented below. GROUPER COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 ort Cash $1,830 1,710 $1,180 1,320 Receivables veys Inventory 1,590 1,920 Plant assets 1,890 1,710 (1,220) (1,190) Accumulated depreciation Long-term investments (held-to-maturity) 1,320 $7,120 1,440 $6,380 $1,190 $890 Accounts payable Accrued liabilities 210 260 Bonds payable 1,400 1,580 Common stock 1,940 1,660 1.990 Retained earnings 2,380 $7,120 $6,380 GROUPER COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,720 Cost of goods sold 4,680 Gross margin 2,040 Selling and administrative expenses 920 Income from operations 1,120 Other revenues and gains Gain on sale of investments 80 Income before tax 1,200 Income tax expense 550 Net income 650 Cash dividends 260 Income retained in business $390 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 indirect method. (Show amounts that decrease cash flow with either a signes. -15,000 or in parenthesises (15,000) GROUPER COMPANY Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to 11:58 AM search