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?