Condensed financial data of Fairchild SA for 2019 and 2018 are presented below.

Fairchild SA
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2019
Sales revenue................................................................‚¬6,900
Cost of goods sold............................................................4,700
Gross margin.....................................................................2,200
Selling and administrative expense..........................................930
Income from operations.....................................................1,270
Other income and expense Gain on sale of investments...................80
Income before tax............................................................1,350
Income tax expense............................................................540
Net income.......................................................................‚¬ 810
Additional information:
During the year, ‚¬70 of ordinary shares were issued in exchange for plant assets. No plant assets were sold in 2019. Cash dividends were ‚¬260.
Instructions
Prepare a statement of cash flows using the indirect method.

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Fairchild SA COMPARATIVE STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2019 AND 2018 2018 2019 Debt investments (held-for-collection) €1,300 €1,470 Plant assets 1,900 1,700 Accumulated depreciation (1,200) (1,170) Inventory 1,600 1,900 1,300 Accounts receivable 1,750 1,800 Cash 1,100 €7,150 €6,300 Share capital-ordinary €1,900 €1,700 Retained earnings 2,450 1,900 Bonds payable 1,400 1,650 Accounts payable 1,200 800 Accrued liabilities 200 250 €7,150 €6,300