7. The chief accountant for Grandview Corporation provides you with the companys 2024 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the companys comparative balance sheets. These financial statements are shown next ($ in millions).

GRANDVIEW CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
Cash Flows from Operating Activities:
Collections from customers	$ 101
Payment to suppliers	(40)
Payment of general and administrative expense	(26)
Payment of income taxes	(17)
Net cash flows from operating activities		$ 18
Cash Flows from Investing Activities:
Sale of investments		73
Cash Flows from Financing Activities:
Issuance of common stock	13
Payment of dividends	(3)
Net cash flows from financing activities		10
Net increase in cash		$ 101

GRANDVIEW CORPORATION
Income Statement
For the Year Ended December 31, 2024
Sales revenue		$ 112
Cost of goods sold		40
Gross profit		72
Operating expenses:
General and administrative expense	$ 26
Depreciation expense	18
Total operating expenses		44
Operating income		28
Other income:
Gain on sale of investments		18
Income before income taxes		46
Income tax expense		10
Net income		$ 36

Required:

1. Calculate the missing amounts.
2. Prepare the operating activities section of Grandviews 2024 statement of cash flows using the indirect method.

Calculate the missing amounts.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

1.

GRANDVIEW CORPORATION
Balance Sheets
At December 31
($ in millions)
	2024	2023
Assets:
Cash	$167
Accounts receivable		92
Investments		55
Inventory	68
Property, plant and equipment	158	158
Less: Accumulated depreciation	(81)
Total assets
Liabilities and Shareholders Equity:
Accounts payable	$48	$38
Accrued liabilities (for selling and administrative expense)	17	17
Income taxes payable	30
Common stock	251	238
Retained earnings		36
Total liabilities and shareholders equity

• Required 2

Prepare the operating activities section of Grandviews 2024 statement of cash flows using the indirect method.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

GRANDVIEW CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
($ in millions)
Cash flows from operating activities:
Adjustments for noncash effects:
Changes in operating assets and liabilities:
Net cash flows from operating activities

• Required 2

Prepare the operating activities section of Grandviews 2024 statement of cash flows using the indirect method.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

GRANDVIEW CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
($ in millions)
Cash flows from operating activities:
Adjustments for noncash effects:
Changes in operating assets and liabilities:
Net cash flows from operating activities

• Required 2

Prepare the operating activities section of Grandviews 2024 statement of cash flows using the indirect method.

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

GRANDVIEW CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
($ in millions)
Cash flows from operating activities:
Adjustments for noncash effects:
Changes in operating assets and liabilities:
Net cash flows from operating activities

6.The following condensed information was reported by Peabody Toys, Incorporated, for 2024 and 2023:

	($ in thousands)
	2024	2023
Income statement information
Net sales	$ 6,900	$ 5,900
Net income	374	158
Balance sheet information
Current assets	$ 970	$ 920
Property, plant, and equipment (net)	2,630	2,280
Total assets	$ 3,600	$ 3,200
Current liabilities	$ 1,660	$ 1,310
Long-term liabilities	920	920
Common stock	700	700
Retained earnings	320	270
Liabilities and shareholders equity	$ 3,600	$ 3,200

Required:

1. Determine the following ratios for 2024:

Note: Round your percentage answers to 1 decimal place.

1. Determine the amount of dividends paid to shareholders during 2024.

Note: Enter your answers in whole dollars, not in thousands. For example, $150,000 rather than 150.