2. Svoboda Corporation comparative balance sheets at December 31 (in millions) LIABILITIES AND SHAREHOLDERS' EQUITY 20X1 20X2 ASSETS Cash Accounts receivable Inventories Fixed assets, net Other assets 20X120X2 % 5 Notes payable Accounts payable Accrued wages Accrued taxes Long-term debt Common stock Retained earnings $20 12 50 15 15 26 20 40 Total liabilities and Total assets $90 $100 shareholders' equity $90 $100 Svoboda Corporation statement of income and retained earnings, year ended December 31, 20X2 (in millions) $48 Net sales Expenses $25 Cost of goods sold Selling, general, and administrative expenses Depreciation Interest 37 %11 4 Net income before taxes Less: Taxes Add: Retained earnings at 12/31/Xl Less: Dividends Net income 40 $47 Subtotal Retained earnings at 12/31/X2 a. Prepare a flow of funds (sources and uses of funds) statement for 20X2 for the Svoboda Corporation 197 Financial Analysis and Planning b. Prepare a statement of cash flows for 20X2 using the indirect method for the Svoboda Corporation