Hi, could you please help me out with 4 and 5.
The following information has been reported by Laporte Inc. on its statements of nancial 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 201 6 Cash $ 120 $ 78 Accounts receivable 64 44 Merchandise inventory 47 52 Long-term investments - 38 Property, plant, and equipment 213 174 Accumulated depreciation (68) (76) Total assets $ 376 $ 310 Accounts payable $ 4-4 58 Income taxes payable 4 5 Long-term borrowings 97 47 Contributed capital 162 150 Retained earnings 69 50 Total liabilities and shareholders' equity $ 376 $310 Statement of Earnings Sales $ 190 Cost of sales (114) Gross prot 76 Depreciation expense (10) Other operating expenses (45) Earnings from operations 21 Gain on sale of investments 7 Loss on sale of equipment (2) Earnings before income tax 26 Income tax expense 5 Net earnings $ 21 Additional information is as follows: 3. Old equipment was sold for cash during 2017. It had an original cost of $36 and an accumulated depreciation of $18. b. A new building was acquired during the year in exchange for a long-term note for $50, payable in ve years. In addition, new equipment was purchased for cash. 4. Based on your answers to (1.) and (2.) above, determine the net cash flow from financing activities. (Hint: This can be done without preparing the financing activities section of the statement.) (Enter your answer in millions.) Cash flow from financing activities 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