U Kieso, Intermediate Accounting, 15e ry dydi Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below. PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 2014 2013 $1,803 $1,100 Receivables 1,752 1,301 Inventory 1,593 1,907 Plant assets 1,892 1,690 Accumulated depreciation (1,198) (1,175) Long-term investments (held-to-maturity) 1,297 1,465 $7,139 $6,288 Accounts payable $1,206 $782 Accrued liabilities 2000 230 Bonds payable 1,417 1,641 Capital stock 1,898 1,691 Retained earnings 2,418 1,944 $7,139 $6,288 OMPAN INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Sales revenue $6,845 Cost of goods sold 4,705 Gross margin 2,140 Selling and administrative expenses 933 Income from operations 1,207 Other revenues and gains Gain on sale of investments Income before tax 1,293 Income tax expense Net income $753 Cash dividends Income retained in business $474 Additional information During the year, $62 of common stock was issued in exchange for plant assets. No plant assets were sold i Prepare a statement of cash flows using the direct method. (Showy amounts that decrease cash flow wa PAT METHENY COMPANY of Cash Flows For the Year Ended December 31, 2014