Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below:

Pat Metheny

Comparative Balance Sheet

As of December 31, 2014 and 2013

20142013

Cash1,8001,100

Receivables1,7501,300

Inventory1,6001,900

Plantassets1,9001,700

Accumulateddepreciation(1,200)(1,170)

Long-term investments(Held-to-maturity)1,3001,470

$7,150$6,300

Accountspayable1,200800

Accruedliabilities200250

Bondspayable1,4001,650

Capitalstock1,9001,700

RetainedEarnings2,4501,900

$7,150$6,300

Pat Metheny

Income Statement

For the year ended December 31, 2014

Sales6,900

Cost of goodssold4,700

GrossMargin2,200

Selling & adminExpenses930

Income fromoperations1,270

Gain on sale ofinvestment80

Income beforetax1,350

Income taxexpense540

Netincome810

Cashdividends260

Income retained inbusiness550

Additional information:

During the year, $70 of common stock was issued in exchange for plant assets.No plant assets were sold in 2014.

Instructions:

Prepare statement of cash flows using the indirect method.