Cash Flows You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98 million in current taxes and had an interest expense of $48 million. Use the accounting statement of cash flows to construct the financial statement of cash flows.

TIME MANUFACTURING Statement of Cash Flows ($ in millions)
Operations Net income Depreciation Deferred taxes Changes in assets and liabilities Accounts receivable Inventories Accounts payable Accrued expenses Other Total cash flow from operations Investing activities Acquisition of fixed assets Sale of fixed assets Total cash flow from investing activities $173 94 19 −18 22 17 −9 3 $301 −$215 23 −$192 Financing activities Retirement of long-term debt Proceeds from long-term debt sales Change in notes payable Dividends Repurchase of stock Proceeds from new stock issue Total cash flow from financing activities Change in cash (on balance sheet)
−$162 116 6 −86 −13 44 −$ 95 $ 14