At the end of 2020, Lehnhoff Inc. had $275 million in cash on its balance sheet. During 2021, the following events occurred:

The company had a total net loss of $150 million.

Depreciation for the year totaled $62 million.

Account receivables decreased by $45 million.

Account payables decreased by $15 million.

Lehnhoff issued $500 million in common stock.

Lehnhoffs issued $100 million of its long-term debt.

a. For each event, determine if there was a source or use of cash for the firm. Identify the cash flow category (operating, investing, or financing) for each activity.

b. How much cash did Lehnhoff Inc. have on its balance sheet at the end of 2021?

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