(SCF-Indirect Method) 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 indirect method.

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PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2008 AND 2007 2008 2007 Cash $1,800 $1,150 Receivables 1,750 1,300 Inventory 1,600 1,900 Plant assets 1,900 1,700 Accumulated depreciation (1,200) (1,170) Long-term investments (Held-to-maturity) 1,300 1,420 $7,150 $6,300 Accounts payable $1,200 $ 900 Accrued liabilities 200 250 Bonds payable 1,400 1,550 Capital stock 1,900 1,700 Retained earnings 2,450 1,900 $7,150 $6,300