Condensed financial data of Pat Metheny Company for 2008 and 2007 are presented below.

Additional information:
During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2008.
Instructions
Prepare a statement of cash flows using the indirectmethod.

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Pat Metheny Company Comparative Balance Sheet As of December 31, 2008 and 2007 2008 2007 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (Held-to-maturity) $1,800 1,750 1,600 1,900 $1,150 1,300 1,900 1,700 (1,200 (1,170) 1,420 $6,300 1,300 Accounts payable Accrued liabilities Bonds payable Capital stock Retained earnings $1,200 200 1,400 1,900 2,450 $7,150 900 250 1,550 1,700 1,900 $6.300 Pat Metheny Company Income Statement For the Year Ended December 31, 2008 Sales Cost of goods sold Gross margin Selling and administrative expense Income from operations Other revenues and gains $6,900 4,700 2,200 930 1,270 Gain on sale of investments Income before income tax Income tax expense Net income Cash dividends Income retained in business 80 1,350 540 810 260 $ 550