248 A XYZ Company Statement of Cash Flows For the Year Ending November 30, 2021 in millions) 2021 2020 Operating Activities Net income $5,503 54.946 Adjustments to reconcite to cash provided by operations: Depreciation and amortization 1.415 1.276 Other noncash expenses 192 Charpes in operating working capital items Increase in Accounts receivable 161 (50) Increase in Inventories 52 (50) increase (Decrease) in Accounts payable 36 (40) Increase in income taxes payable 198 55 increase (Decrease) in Other accrued liabilities Cash provided by operations 56.342 Investing Activities Capital expenditures 2,730 (2.136) Purchases of other businesses 186 (183) Sales of other businesses and property 511 378 Other uses of cash for investing activities 166 615) Cash used for investing activities B 12,056) Financing Activities Net short-term borrowings 261 3 Long-term financing issuances 1,367 1.932 Long-term financing repayments 624 (1.1471 Treasury stock purchases 3,363 (2.699) Common stock dividends 2,610 12.408) Other sources of financing 1436 -590 Cash used for financing activities C (3.729) Cash and equivalents increase (decrease) 591 Cash and equivalents beginning of year 1,796 Cash and equivalents at end of year $2.353 Required: 1. Parentheses (signs) have been removed from the 2021 statement of cash flows. Determine which items should be negative, mark them and determine the values for letters A through F. (20 points) 2. Suppose the balance in Retained Earnings at November 30, 2020, was $33,812 million. Determine the Retained Earnings balance at November 30, 2021, assuming that all dividends declared were paid in cash in 2021. (5 points) D