The income statement and comparative balance sheet of Milan Company is given below:

Milan Company
Income Statement
For the Year Ended December 31, 2022
Sales		$3,540
Cost of goods sold		2,350
Gross profit		1,190
Selling and administrative expenses		465
Other revenues and gains
Gain on sale of investments		40
Income before tax		$765
Income tax expense		270
Net income		495

During the year 2022, a dividend of $130 was declared and paid by management of Milan Company. Some plant assets were purchased during 2022 and the payment was settled by issuing common stock amounting to $35.

Milan Company

Comparative Balance Sheet

As on December 31, 2022 and 2021

		2022		2021
Assets:
Cash and cash equivalents		$972		$557
Accounts receivable		857		650
Inventory		830		950
Plant assets		950		850
Accumulated depreciation		(600)		(585)
Long-term investments		650		701
Total		$3,659		$3,123
Liabilities and equity:
Accounts payable		590		405
Accrued liabilities		100		152
Bonds payable		700		757
Capital stock		950		850
Retained earnings		1.319		959
Total		$3,659		$3,123

Required:

Based on the financial statements given above, prepare a statement of cash flows of Milan Company using indirect method.