Culver Corp. uses the direct method to prepare its statement of cash flows. Culver trial balances at December 31, 2020 and 2019, are as follows. December 31 Debits 2020 2019 Cash $34,600 $31,700 Accounts receivable 32,600 30,300 Inventory 31,300 46,600 Property, plant, & equipment 99,700 94,700 Unamortized bond discount 4,500 5,000 Cost of goods sold 250,100 378,000 Selling expenses 140,600 171,400 General and administrative expenses 137,700 152,200 Interest expense 4,400 2,700 Income tax expense 20,200 60,600 $755,700 $973,200 Credits Allowance for doubtful accounts $1,300 $1,000 Accumulated depreciation-plant assets 16,400 14,900 Accounts payable 24,900 15,400 Income taxes payable 21,100 29,100 Deferred tax liability 5,300 4,600 8% callable bonds payable 44,800 20,000 Common stock 50,200 40,000 Paid-in capital in excess of par 9,200 7,500 Retained earnings 44,300 64,700 Sales revenue 538,200 776,000 $755,700 $973,200