P 4-10 Integration of financial statements; Chapters 3 and 4 The chief accountant for Grandview Corporation provides you with the company's 2016 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the company's comparative balance sheets. These financial statements are shown next in millions). GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2016 Cash Flows from Operating Activities: $71 Collections from customers Payment to suppliers (30) Payment of general & administrative expenses (18) Payment of income taxes (9) Net cash flows from operating activities $14 Cash Flows from Investing Activities: Sale of investments 65 Cash Flows from Financing Activities: Issuance of common stock 10 Payment of dividends (3) Net cash flows from financing activities $86 Net increase in cash GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2016 $80 Sales revenue Cost of goods sold 32 Gross profit 48 Operating expenses: $18 General and administrative Depreciation 10 Total operating expenses 28 20 Operating income Other income: Gain on sale of investments 15 Income before income taxes 35 Income tax expense $28 Net income GRANDVIEW CORPORATION Balance Sheets At December 31 2016 2015 Assets: $145 Cash Accounts receivable 84 Investments 600 Inventory Property, plant & equipment 1500 150 Less: Accumulated depreciation 65 Total assets (continued)