********PLEASE USE THE ANSWER SHEET ABOVE**********

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Question 9 (14 points) Use the below information to prepare an INDIRECT METHOD Statement of Cash Flows for Albus Company for the year ended December 31, 2022. Type your answers into the 'ANSWER SHEET for Week 6 Assignment Stmt of Cash Flow Problem' Word file; you can download this answer sheet file in the Week 6 Printable Class Materials section of the Week 6 Content on D2L. Once you've finished preparing the Statement of Cash Flows, upload your completed Word (or pdf) file using the 'Add File' button below. Albus Company Balance Sheets (in millions) Dec. 31, Dec. 31, ASSETS: Cash Investments Accounts Receivable Inventory Prepaid Insurance Property & Equipment, net Patents, net Total Assets 2022 $ 106 62 35 40 5 119 46 $ 413 2021 $ 107 51 18 60 4 4 105 50 $ 395 LIABILITIES & STOCKHOLDERS' EQUITY: $ 40 6 LIABILITIES & STOCKHOLDERS' EQUITY: Accounts Payable Income Tax Payable Unearned Revenue Notes Payable Common Stock & APIC Treasury Stock Retained Earnings Total Liabilities & Stockholders' Equity $ 46 4 8 118 180 (100) 157 $ 413 3 80 180 (50) 136 $ 395 58 Albus Company Income Statement For the Year Ended Dec 31, 2022 (in millions) Sales $ 338 Cost of Goods Sold 175 Depreciation Expense 16 Amortization Expense 4 Rent Expense Insurance Expense 25 Other Operating Expenses 17 Operating Income 43 Interest Expense 9 Gain on Sale of PP&E 2 Loss on Sale of Investments 3 Income before taxes 33 Income Tax Expense 6 Net Income $ 27 Additional information about 2022 transactions (in millions): The company spent $50 repurchasing its stock. The company sold investments that had an initial cost of $14 for $11 cash. The company declared and paid $6 in cash dividends. The company purchased new PP&E for $36 cash. The company purchased investments for $25 cash. The company sold some of its PP&E for $8 cash. The PP&E that was sold had an initial cost of $20 and Accumulated Depreciation of $14. The company borrowed $38 from a bank. JANSWER SHEETStatement of Cash Flow Problem on Week 6 Assignment Albus Company Statement of Cash Flows (Indirect Method) Year ended December 31, 2022 (in millions) CASH FLOWS FROM OPERATING ACTIVITIES Net Income Adjustments to reconcile net income with cash from operations: Net cash provided by/(used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES Net cash provided by/(used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Net cash provided by/(used in) financing activities Net change in cash Cash at beginning of the year Cash at end of the year