The income statement for the year ended December 31, 2008 and the balance sheet at December 31, 2008 are presented below for Brown Company. Prepare the statement of cash flows using the indirect method. Brown Company Income Statement For the Year Ended December 31,

$6,500 Revenues 800 Depreciation expense Other operating expenses 4,700 5700 800 Income before income taxes Income tax expense 350 Net income S 450 Brown Company Balance Sheet December 31, 2008 2008 2007 2008 2007 Liab. & SE: Assets Cash 650 130 A/P 520 500 A/R. 770 610 LT debt 375 320 1,260 Inventories 835 870 Common Stock 1,260 Net Plant & Equip 1,450 1,770 Retained Earnings 1550 l,300 Total Assets 3.705 3.380 Total Liab. & SE 3705 3.380