E23-11 (SCF-Indirect Method) Condensed financial data of Fairchild Company for 2010 and 2009 rem presented below. FAIRCHILD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2010 AND 2009 2011 Cash $1,800 Receivables 1,750 Inventory 1,600 Plant assets 1.900 Accumulated depreciation (1,200) Long-term investments Held-to-maturity 1,300 $7,150 Accounts payable $1,200 Accrued liabilities 200 Bonds payable 11,400 Capital stock * 1.900 Retained earnings 2,450 $7.150 2010 $1,100 1,300 1,900 1,700 (1.170) 1.470 $6,300 $ 800 250 1.650 1.700 1,900 $6,300 FAIRCHILD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2010 Sales $6,900 Cost of goods sold 4,700 Gross margin 2.200 Seling and administrative expense Income from operations Other revenues and gains Gain on sale of investments Income before tax 1.350 Income tax expense Not Income $ 810 E23-11. Additional information: During the year, $70 common stock was issued in exchange for plant assets. No plant assets were sold in 2010. Cash dividends were $260. Instructions: Prepare a statement of cash flows using the indirect method