Condensed financial data of Blue Company for 2017 and 2016 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 2017.

Prepare a statement of cash flows using the indirect method.

BLUE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,780 $1,170 Receivables 1,760 1,280 Inventory 1,620 1,880 Plant assets 1,910 1,670 Accumulated depreciation (1,210) (1,160 ) Long-term investments (held-to-maturity) 1,3301,440 $7,190 $6,280 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,230 210 1,370 1,920 2,460 $7,190 $920 250 1,560 1,680 1,870 $6,280 BLUE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income Cash dividends $6,820 4,600 2,220 910 1,310 1,390 540 850 260 $590 Income retained in business BLUE COMPANY Statement of Cash Flows For the Year Ended December 31, 2017 (Indirect Method) Adjustments to reconcile net income to