Statement of Cash Flows Use the balance sheet and income statement below to construct a statement of cash flows for Clancy's Dog Biscuit Corporation. (LG5)

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CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 5 $ 5 Accrued wages and taxes $ 10 $ 6 Accounts receivable 20 19 Accounts payable 16 15 65 Inventory 36 29 Notes payable 14 13 Total $ 61 $ 53 Total $ 40 $ 34 Fixed assets: Long-term debt: $ 57 $53 Gross plant and equipment $106 $ 88 Stockholders' equity: Less: Depreciation 15 11 Preferred stock (2 million shares) $ 2 $ 2 Common stock and paid-in Net plant and equipment $ 91 $ 77 Other long-term assets Total Total assets 15 $106 $167 15 $ 92 $145 surplus (5 million shares) Retained earnings Total Total liabilities and equity 11 57 $ 70 45 $ 58 $167 $145 11