Condensed financial data of Alderbrook SA for 2027 and 2026 are presented below.
Alderbrook SA
Comparative statements of Financial Position
As of December 31, 2027 and 2026
| 2027 | 2026 |
|---|
| Debt investments (held-for-collection) | 1,560 | 1,764 |
| Plant assets | 2,280 | 2,040 |
| Accumulated depreciation | (1,440) | (1,404) |
| Inventory | 1,920 | 2,280 |
| Accounts receivable | 2,100 | 1,560 |
| Cash | 2,160 | 1,320 |
| 8,580 | 7,560 |
| Share capital - Ordinary | 2,280 | 2,040 |
| Retained earnings | 2,940 | 2,280 |
| Bonds payable | 1,680 | 1,980 |
| Accounts payable | 1,440 | 960 |
| Accrued liabilities | 240 | 300 |
| 8,580 | 7,560 |
Alderbrook SA
Income Statement
For the Year Ended December 31, 2027
| Sales revenue | 8,280 |
| Cost of goods sold | 5,640 |
| Gross margin | 2,640 |
| Selling and administrative expense | 1,116 |
| Income from operations | 1,524 |
| Other income and expense | |
| Gain on sale of investments | 96 |
| Income before tax | 1,620 |
| Income tax expense | 648 |
| Net income | 972 |
Additional information:
During the year, $84 of ordinary shares were issued in exchange for plant assets. No plant assets were sold in 2027. Cash dividends were $312.
Instructions: Prepare a statement of cash flows using the indirect method.