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I below. FLOUNDER COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue...

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Accounting

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I below. FLOUNDER COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,010 Cost of goods sold Gross margin 2,2804,730 \begin{tabular}{lr} Selling and administrative expenses & 930 \\ \cline { 2 - 2 } Income from operations & 1,350 \end{tabular} Other revenues and gains Gain on sale of investments Income before tax 1,43080 Income tax expense Net income 890540 Cash dividends Income retained in business $630260 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 direct method. (Show amounts in the investing and financing sections thot decrease cash flow with aithor a - cien e. 15.000 or in parenthesis e.s. (15,000)J Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes

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