During the year, $70 of common stock was issued in exchange for plant assets

E23-12 (SCF- Direct Method)
Data for Pat Metheny Company are presented in E23-11.

Additional information:
During the year, $70 of common stock was issued in exchange for plant assets. No plant assest were sold in 2008.

Instructions:
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)

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