answer it asap its financial management subject

VIEW AND SELF-TEST PROBLEMS 3.1 Sources and Uses of Cash Consider the following balance sheets for the Philippe Corporation. Calculate the changes in the various accounts and, where applicable. identify the change as a source or use of cash. What were the major sources and uses of cash? Did the company become more or less liquid during the year? What happened to cash during the year? 2012 $ 215 310 507 328 $ 853 PHILIPPE CORPORATION 2011 and 2012 Balance Sheets ($ in millions) 2011 Assets Current assets Cash $ 210 Accounts receivable 355 Inventory Total $1,072 Fixed assets Net plant and equipment $6,085 Total assets $7,157 Liabilities and Owners' Equity Current liabilities Accounts payable $ 207 Notes payable 1,715 Total $1,922 Long-term debt $1,987 Owners' equity Common stock and paid-in surplus $1,000 Retained earnings 2,248 Total $3,248 Total liabilities and owners' equity $7,157 $6,527 $7,380 $ 298 1,427 $1,725 $2,308 $1,000 2,347 $3,347 $7,380