Exercise 23-11 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 Accrued liabilities Bonds payable Common stock Retained earnings $1,200 200 1,400 1,900 2,450 $7,150 $900 250 1,550 1,700 1,900 $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 Other revenues and gains Gain on sale of investments Income before tax 1,350 Income tax expense - 540 Net income 810 Cash dividends 260 Income retained in business 1,270 80 $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 (Indirect Method) Adjustments to reconcile net income to