An analyst gathered the following information from a company’s 2010 fi nancial statements (in $ millions):

Balances as of Year Ended 31 December 2009 2010 Retained earnings 120 145 Accounts receivable 38 43 Inventory 45 48 Accounts payable 36 29 In 2010, the company declared and paid cash dividends of $10 million and recorded depreciation expense in the amount of $25 million. Th e company considers dividends paid a fi -

nancing activity. Th e company’s 2010 cash fl ow from operations (in $ millions) was closest to A . 25.

B . 45.

C . 75.