Answer Happy

Condensed financial data of Shamrock Company for 2020
and 2019 are presented below.
SHAMROCK COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2020 AND 2019
2020
2019
Cash
$1,800
$1,130
Receivables
1,750
1,320
Inventory
1,630
1,890
Plant assets
1,910
1,720
Accumulated depreciation
(1,190
)
(1,170
)
Long-term investments (held-to-maturity)
1,280
1,410
$7,180
$6,300
Accounts payable
$1,230
$910
Accrued liabilities
190
240
Bonds payable
1,400
1,540
Common stock
1,930
1,680
Retained earnings
2,430
1,930
$7,180
$6,300
SHAMROCK COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue
$6,890
Cost of goods sold
4,730
Gross margin
2,160
Selling and administrative expenses
940
Income from operations
1,220
Other revenues and gains
Gain on sale of investments
90
Income before tax
1,310
Income tax expense
550
Net income
Cash dividends
260
Income retained in business
$500
Additional information:

During the year, $60 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 - sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
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