Condensed financial data of Fairchild SA for 2022 and 2021 are presented below.

                                      Fairchild SA
                              Income Statement
                For the Year Ended December 31, 2022
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 2022. 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, 2022 and 2021 2022 2021 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 Accounts receivable 1,750 1,300 Cash 1,800 1,100 €7,150 €6,30o 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