Derivation of deferred tax expense Change in DTL during the year 390.00 Less: Change in DTA during the year 26.00 = Deferred tax expense during the year 364.00 Investing items Y2 ICF1: Gross PP&E bought during the year 1598.00 ICF2: Gross PP&E sold during the year 1353.00 CF2: Accumulated depreciation of PP&E sold during the year 989.00 Financing items FCF1: Proceeds from new loans 421.00 FCF2: Capital contributions 438.00 FCF3: Principal repaid 200.00 FCF4: Capital distributions 193.00 FCF5: Dividends 324.00 Indirect cash flows: You may not need all rows Y2 Net income 1195.00 Adjustments (increase) decrease in gross receivables (increase) decrease in inventories (increase) decrease in prepaid advertising Depreciation expense [Gross increase in accumulated depreciation ] increase (decrease) in accounts payable increase (decrease) in salaries payable increase (decrease) in deferred revenues = US GAAP Operating cash flows (Capital expenditures) Derivation of proceeds from sale Decrease in gross PP&E due to sale