Condensed financial data of Indigo Company for 2017 and 2016 are presented below INDIGO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,770 $1,160 Receivables 1,740 1,280 Inventory 1,620 1,880 Plant assets 1,930 1,670 Accumulated depreciation (1,250) (1,190) Long-term investments (held-to-maturity) 1,290 $7,100 1,420 $6,220 Accounts payable $1,220 $920 240 Accrued liabilities 190 Bonds payable 1,370 1,570 Common stock Retained earnings 1,930 2,390 $7,100 1,730 1,760 $6,220 INDIGO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 MacBook Air INDIGO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $6,860 Cost of goods sold 4,600 Gross margin 2.260 Selling and administrative expenses 930 Income from operations 1,330 Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income 890 Cash dividends 260 Income retained in business $630 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. (Show amounts that decrease cash flow with either a signe..15,000 or in parenthesis e.g. (15,000).) INDIGO COMPANY INDIGO COMPANY Statement of Cash Flows (Indirect Method) Adjustments to reconcile net income to MacBook Air