PLEASE WRITE DOWN ALL PROCESS OF CALCULATION ( DO NOT USE EXCEL), THE KEYS ARE SHOWN.

Problem 1. Statement of Cash Flows (12 points). A comparative balance sheet for Talkington Corporation is presented below (in $ thousands).

	December 31
Assets	2020		2019
Cash	$ 68		$ 22
Accounts receivable	82		66
Inventory	170		189
Land	71		110
Equipment	280		200
Accumulated depreciationequipment	(74)		(42)
Total	$597		$545
Liabilities and Stockholders Equity
Accounts payable	$ 34		$ 47
Bonds payable	150		200
Common stock ($1 par)	164		164
Retained earnings	249		134
Total	$597		$545

1. Net income for 2020 was $155; there were no gains or losses.

2. Cash dividends of $40 were declared and paid.

3. Bonds payable of $50 were retired.

Required: Using the above information, determine the Cash Flow from Operating Activities, Cash Flow from Investing Activities, and Cash Flow from Financing Activities. Place your answers in the space below. Show your work in the T-accounts on the next page for partial credit.

Cash Flow from Operating Activities:	$177,000
Cash Flow from Investing Activities:	($41,000)
Cash Flow from Financing Activities:	($90,000)