Condensed financial data of Marigold 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.

MARIGOLD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 2017 Cash $1,790 1,140 Receivables 1,750 1,290 Inventory 1,590 1,900 Plant assets 1,920 1,740 Accumulated depreciation (1,170) (1,150) Long-term investments (held-to-maturity) 1,320 1,420 $7,200 $6,340 $1,220 Accounts payable $880 Accrued liabilities 250 200 Bonds payable 1,400 1,530 Common stock 1,940 1,700 Retained earnings 2,440 1,980 $7,200 $6,340 MARIGOLD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 $6,770 Sales revenue Cost of goods sold 4,660 Gross margin 2,110 Selling and administrative expenses 930 Income from operations 1,180 Other revenues and gains Gain on sale of investments 80 Income before tax 1,260 Income tax expense 540 Net income 720 Cash dividends 260 $460 Income retained in business