erm Use the balance sheet and income statement below 2017 2018 2017 Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 Liabilities and Equity Current liabilities: $ 4 Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders equity: Preferred stock (2 million shares) Common stock and paid-in-surplus (5 million shares) Retained earnings Total $129 Total liabilities and equity $8 16 16 5.40 $ 26 5 6 14 12 $ 32 $ 23 **** asal 2| |2|3| $ 2 11 50 all 11 42 $ 55 $110 5129 86 CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in millions of dollars) 2018 2017 Net sales $ 82 $ Less: Cost of goods sold 41 37 Gross profits $ 41 $ 49 Less: Other operating expenses 9 8 Earnings before interest, taxes depreciation, and amortization (EBITDA) $ 32 $ 41 Less: Accumulated depreciation 7 7 Earnings before interest and taxes (EBIT) $ 25 $ 34 Less: Interest 8 8 Earnings before taxes (EBT) 17 $ 26 Less: Taxes 5 13 Net income $ 12 $ 13 Less: Preferred stock dividends $ 1 $ 1 Net income, available to common stockholders $ 11 $ 12 Less: Common stock dividends 3 Addition to retained earnings $ 8 $ 9 Per (common) share data: Earnings per share (EPS) $ 2.20 $ 2.40 Dividends per share (DPS) $ 0.60 $ 0.60 Book value per share (BVPS) $12.20 $10.60 Market value (price) per share (MVPS) $12.85 $14.00 $ $ $ 00 ya baba | $ mo Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign.) Statement faire Statement of Cash Flows for Year Ending December 31, 2018 (in millions of dollars) Cash flows from operating activities Additions (sources of cash): Subtractions (uses of cash): Net cash flow from operating activities Cash flows from investing activities Subtractions: Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions: Net cash flow from financing activities Net change in cash and marketable securities