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Condensed financial data of Monty SA for 2022 and 2021 are presented below. MONTY SA COMPARATIVE STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2022

Condensed financial data of Monty SA for 2022 and 2021 are presented below.

MONTY SA COMPARATIVE STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2022 AND 2021

2022

2021

Debt investments (held-for-collection)

1,350

1,470

Plant assets

1,950

1,700

Accumulated depreciation

(1,400

)

(1,170

)

Inventory

1,500

1,950

Accounts receivable

2,050

1,350

Cash

1,850

1,250

7,300

6,550

Share capitalordinary

2,050

1,750

Retained earnings

2,300

1,900

Bonds payable

1,400

1,700

Accounts payable

1,300

900

Accrued liabilities

250

300

7,300

6,550

MONTY SA INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2022

Sales revenue

6,690

Cost of goods sold

4,700

Gross margin

1,990

Selling and administrative expenses

910

Income from operations

1,080

Other revenues and gains

Gain on sale of investments

80

Income before tax

1,160

Income tax expense

500

Net income

660

Additional information: During the year, 70 of ordinary shares were issued in exchange for plant assets. No plant assets were sold in 2022. Cash dividends were 260. Prepare a statement of cash flows using the indirect method

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