OURCESExercise 23-12 CH23 Condensed financial data of Indigo Company for 2017 and 2016 are presented below 3-1 INDIGO COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 20172016 $1,770$1,170 1,790 1,320 1,6101,940 1,910 1,680 (1,200) (1,190) 1,300 1,420 $7,180 $6,340 $1,210 200 1,370 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $910 240 1,560 1,8801,740 2,520 1,890 $7,180$6,340 us.com/edugen/shared/assignment/test/aglist.uniadasnmt2 181 193#N 10066 Ps INDIGO COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains $7,010 4,730 2,280 930 1,350 Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 80 1,430 540 890 260 $630 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 20 Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing 15,000 or in parenthesis e.g. (15,000).) INDIGO COMPANY