Please prepare a statement of cash flows using the INDIRECT method.

Exercise 23-11 Condensed financial data of Pina Company for 2017 and 2016 are presented below. PINA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $1,820 $1,150 Receivables 1,780 1,310 Inventory 1,600 1,930 1,930 1,710 Plant assets Accumulated depreciation (1,200 ) (1,160 ) Long-term investments (held-to-maturity) 1,320 1,400 $7,250 $6,340 Accounts payable $1,190 $880 270 Accrued liabilities 190 Bonds payable 1,430 1,520 1,900 Common stock 1,730 Retained earnings 2,540 1,940 $7,250 $6,340 PTNA C OMRANY PINA COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $6,860 4,620 Cost of goods sold Gross margin 2,240 Selling and administrative expenses 920 Income from operations 1,320 Other revenues and gains Gain on sale of investments 80 Income before tax 1,400 Income tax expense 540 Net income 860 Cash dividends 260 $600 Income retained in business Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)