Holmes Company reported the following balance sheets at December 31, 20X2 and 20X1: ($ in millions) Cash Accounts receivable Inventory Fixed assets Accumulated depreciation Total assets Accounts payable Long-term debt Common stock Retained earnings Treasury stock Total liabilities and stockholders' equity Its Income statement for 20X2 was as follows: ($ in millions) Sales Cost of sales Depreciation other operating expenses Income before taxes Income taxes Net income $1,000 (670) (30) (100) 200 (42) $ 158 Additional Information: During 20X2, Holmes had the following transactions: December 31, 20X2 $45 170 250 500 (150) $815 $ 100 455 50 280 (70) $ 815 20X1 $ 40 175 230 400 (120) $ 725 $ 80- 425 50 200 (30) $ 725 a. Declared and paid a common dividend of $78 million. b. Purchased additional fixed assets, but did not sell any. c. Issued $30 million of new debt. d. Pald 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 20X2, 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 flow statement. (Net cash outflows and amounts to be deducted should be Indicated by a minus sign. Enter your answers in millions.)

Holmes Company reported the following balance sheets at December 31,202 and 201 Its income statement for 202 was as follows Additional intormation: Duning 202, Holmes had the following transactions. a. Declared and paid a common dividend of $78 million. b. Purchased additional fixed assets, but did not sell any c. Issued $30 milition of new debt. d. Poid 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 casi flow statement for Holmes for 20x2. using the indirect method to present the operaung section. For your calculations, It may be helpful to use the worksheet approach described in the chapter appendix to construct the cash nlow statement. (Net cash outtlows and amounts to be deducted should be indlcated by o minus sign. Enter your answers in millions.) c. Issued $30 million of new debt. d. Pald 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 202, 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 flow statement. (Net cash outflows and amounts to be deducted should be Indlcated by a minus sign. Enter your answers in millions.)