Condensed financial data of Pat Metheny Company for 2020 and 2019 are presented below.

PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019
		2020			2019
Cash		$1,800			$1,150
Receivables		1,750			1,300
Inventory		1,600			1,900
Plant assets		1,900			1,700
Accumulated depreciation		(1,200	)		(1,170	)
Long-term investments (held-to-maturity)		1,300			1,420
		$7,150			$6,300
Accounts payable		$1,200			$900
Accrued liabilities		200			250
Bonds payable		1,400			1,550
Common stock		1,900			1,700
Retained earnings		2,450			1,900
		$7,150			$6,300

PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue		$6,900
Cost of goods sold		4,700
Gross margin		2,200
Selling and administrative expenses		930
Income from operations		1,270
Other revenues and gains
Gain on sale of investments		80
Income before tax		1,350
Income tax expense		540
Net income		810
Cash dividends		260
Income retained in business		$550

Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

PAT METHENY COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Activities Net Income $ 6450 Adjustments to reconcile net income to Cash Flows from Operating Activities $ 540 540 540 pogona 540 540 540 5590