Davis Corporation, LLC Statement of Cash Flows ($ million) Year Ending December 31, 20x9 Operating Activities Net income Plus depreciation Less increase in accounts receivables Less increase in inventories Plus increase in accounts payable Cash flows from operations Investment Activities Less increase in gross fixed assets Financing Activities Decrease in short-term notes Increase in long-term debt Issued new common stock in par value and additional paid in capital Less dividends paid to owners Financing cash flows Decrease in cash Beginning cash Ending cash $42 30 (5) (33) 1 (2) 11 4 (10) $35 ($39) $3 ($1) 21 $20