Can u please answer questions 1-5, No calculations required, just the final answers. Will give thumbs up for this answer and your other answers from before. :)
The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2016 and 2017, and on its statement of earnings for the year ended December 31, 2017. Amounts are in millions of dollars: Statements of Financial Position 2017 Cash $ 89 Accounts receivable 36 Merchandise inventory 29 Long-term investments Property, plant, and equipment 209 Accumulated depreciation (83) 2016 $ 69 26 34 20 156 (94) Total assets $280 $ 211 Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings $ 26 4 86 128 36 40 5 26 110 30 Total liabilities and shareholders' equity $280 $ 211 Sales Cost of sales Statement of Earnings $ 145 (87) Required: 1. Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2017 by using the indirect method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Cash flows from operating activities: didedunt itame not affectina coch. Net earnings Net loss Net cash used for operating activities $ 0 LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Cash flows from operating activities: Add (deduct) items not affecting cash: Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities $ 0 2. Prepare the investing activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2017. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Cash flows from investing activities: Net cash flow from investing activities $ 0 LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Cash flows from investing activities: $ Cost of equipment sold Purchase of equipment Sale of equipment 0 Sale of long-term investment 3. Compute each of the following for the year 2017: (a) quality of earnings ratio, (b) capital expenditures ratio, and ( free cash flow. (Negative answers should be indicated by a minus sign. Round "Ratio" answers to 2 decimal places.) (a) Quality of earnings ratio (6) Capital expenditures ratio (c) Free cash flow 5. The president of Laporte Inc., Tanya Turcotte, was provided with a copy of the operating activities section of the statement of cash flows that you prepared in (1.), and made the following comment: This report is supposed to show operating cash inflows and outflows during the year, but I don't see how much cash Laporte Inc. received from customers and how much it paid to trade suppliers and for income taxes. Please ask whoever prepared this statement to provide me with these numbers." Based on Tanya's comment, compute the following amounts for 2017: (Enter your answers in millions.) a. Cash collected from customers b. Cash paid to trade suppliers C. Cash paid for income taxes
