2018 2017 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Liabilities and Equity Current liabilities: $ 5 $ 5 Accrued wages and taxes 20 19 Accounts payable 36 29 Notes payable $ 61 $ 53 Total Long-term debt: $ 106 $ 88 Stockholders' equity! 15 11 Preferred stock (2 million shares) $ 91 $ 77 Common stock and paid-in-surplus (5 million shares) 15 15 Retained earnings $ 100 $92 Total $ 167 $ 145 Total liabilities and equity Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets 510 16 14 $ 40 $ 52 $ 6 15 13 $ 34 $53 s; | | 5 2 11 57 $ 70 $ 167 $ 2 11 45 $ 58 $145 $ CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in millions of dollars) 2018 Net sales 2017 $ 76 $ 80 Less: Cost of goods sold 38 34 Gross profits $ 38 46 Less: Other operating expenses 6 5 Earnings before interest, taxes depreciation, and amortization (EBITDA) 32 41 Less Depreciation 4 4 Earnings before interest and taxes (EBIT) 28 Less: Interest 5 Earnings before taxes (EBT) $ 23 32 LessTaxes 7 10 Net income 16 $ 22 Less: Preferred stock dividends $ $ 1 Net income available to common stockholders 15 21 Less Common stock dividends 3 3 Addition to retained earnings 12 18 Per common share data: Earnings per share (EPS) $ 3.00 $ 4.20 Dividends pen share (DPS) $ 0.60 $ 0.60 Book value pen share BVPS) $13.60 $11.20 Market value (price) per share (MVPS) $14.25 $14.60 S $ $ Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to enter "0" wherever required.) Statement of Cash Flows for Year Ending December 31, 2018 (in millions of dollars) Cash flows from operating activities Net income 16 Additions (sources of cash) Depreciation Increase in accounts payable Increase in inventory (7 Subtractions (uses of cash) 4 Common stock dividends Deprecation prow 610 Next >