work O ichUrl=https%253A%252F%252Fnewconnect.mheducat S Lock & Key Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, is shown below along with some other Information Revenues: Lock & Key Inc. Income Statement For Year Ended December 31, 2020 (000) Sales Cost of goods sold $3,200 2,890 Gross Profit 370 Expenses: Other expenses $720 Depreciation expense 240 Total expenses Loss 960 $500 Lock & Key Inc. Post-Closing Trial Balance (000) Account Cash Receivables Herchandise inventory Property, plant and equipment Accounts payable Accumulated depreciation Accrued liabilities Bonds payable Connon shares Retained earnings December 311 2020 2019 $1,500 $1,200 2,040 1,900 3,100 1,350 1,320 1,300 1,020 360 1,748 3,024 3,570 2,076) 2,690 Other Information regarding Lock & Key Inc. and its activities during 2020 1. Assume all accounts have normal balances 2. Cash dividends were declared and paid during the year 3. Equipment was sold for cash equal to its book value. Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2020. (List any deduction in cash and cash outflows and loss as negative amounts. Enter amounts in thousands, not in dollar) LOCK & KEY INC Statement of Cash Flows Prey 10 of 10 Next