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(SCF-Indirect Method) Condensed financial data of Pat Metheny Company for 2017 and 2016 are presented below PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER

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(SCF-Indirect Method) Condensed financial data of Pat Metheny Company for 2017 and 2016 are presented below PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 $1,800 1,750 1,600 1,900 (1,200) 1,300 $7,150 $1,150 1,300 1,900 1,700 (1,170) 1,420 S6,300 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,200 1,400 1,900 2,450 57,150 s 900 250 1,550 1.700 1,900 $6,300 PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Gross margin Selling and administrative expense Income from operations Other revenues and gains $6,900 4,700 2,200 1,270 Gain on sale of investments Income before tax 1,350 Income tax expense Net income Cash dividends 810 Income retained in business S 550 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017. Instructions Prepare a statement of cash flows using the indirect method

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