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Holmes Company reported the following balance sheets at December 31,2017 and 2018: ($ in millions) December 31, 2818 2617 Cash $ 45 $ 49 Accounts receivable 179 175 Inventory 259 239 Fixed assets 599 499 Accumulated depreciation (159) (129) Total assets $ 815 $ 725 Accounts payable $ 199 $ 89 Long-term debt 455 425 Common stock 59 59 Retained earnings 289 299 Treasury stock (79) (39) Total liabilities and stockholders' equity $ 815 $ 725 ' Its income statement for 2018 was as follows: ($ in millions) Sales $1,999 Cost of sales (679) Depreciation (39) Other operating expenses (199) Income before taxes 299 Income taxes (79) Net income $ 139 ' Additional information: During 2018, Holmes had the following transactions: a. Declared and paid a common dividend of $50 million. b. Purchased additional fixed assets, but did not sell any. c. Issued $30 million of new debt. d. Paid interest on all its debt, and included the interest in Other operating expenses. e. Repurchased common shares, but did not issue any. Required: Prepare a cash flow statement for Holmes for 2018, using the indirect method to present the operating section. For your calculations, it may be helpful to use the worksheet approach described in the chapter appendix to construct the cash ow statement. (Net cash outflows and amounts to be deducted should be indicated by a minus sign.) Operating activities: - - - - Cash ow from operating activities m Investing activities: - Cash ow from investing activities m Financing activities: - Cash ow from nancing activities m Net change in cash m