Prepare a forecasted statement of cash flows for 2017 using the indirect method. Assume the following:

Operating expenses for 2017 (such as general and administrative) include depreciation and amortization expense of $522 million.

The company did not dispose of or write-down any long-term assets during the year.

The company paid dividends of $159 million in 2017

P11-47. Statement of Cash Flows (Indirect Method) Following are the income statement and balance sheet for Whole Foods Market Inc., for the year ended September 25, 2016, and a forecasted income statement and balance sheet for 2017. WHOLE FOODS MARKET INC. Income Statement $ millions 2017 Est. 2016 Actual $15,724 10,313 5,411 4,477 64 13 857 (41) $15.881 10,418 5,463 4,526 Sales. Cost of goods sold and occupancy costs................. Gross profit. Selling, general and administrative expenses.. Pre-opening expenses... Relocation, store closure and lease termination costs ....... Operating income.... Interest expense............................ . Investment and other income...................... Income before income taxes ............. Provision for income taxes........................ Net income.......... ........... ..... 64 873 (41) 11 843 827 320 312 $507 $531 WHOLE FOODS MARKET INC. Balance Sheet 2016 Actual 2017 Est. $ 351 $ 206 379 122 242 286 524 175 167 206 197 1.975 3,442 1.898 3,720 710 $6,511 In millions Assets Current assets Cash and cash equivalents..... Short-term investments - available-for-sale securities Restricted cash...... Accounts receivable.... Merchandise inventories.... Prepaid expenses and other current assets Deferred income taxes.... Total current assets... Property and equipment, net of accumulated depreciation and ammortization. Goodwill... Intangible assets, net of accumulated amortization Deferred income taxes......... Other assets.. Total assets..... Liabilities and shareholders' Equity Current liabilities Current installments of long-term debt and capital lease obligations .... Accounts payable................... Accrued payroll, bonus and other benefits due team members Dividends payable .. Other current liabilities.... Total current liabilities. Long-term capital e obligations, is current installments Deferred lease liabilities..... Other long-term liabilities...... Total liabilities.. Shareholders' equity Common stock, no par value, 1.200 shares authorized: 377.0 share 318.3 shares outstanding... Common stock in treasury, at cost, 58.7 shares Accumulated other comprehensive loss. Retained earnings ......... Total shareholders' equity ........ Total liabilities and shareholders' equity..... $ 66 318 307 407 581 538 1.424 1.341 1,048 640 640 3,117 3.135 2.333 22.026 2003 12.226 32 02 2.349 3.796 56.531 Required Prepare a forecasted statement of cash flows for 2017 using the indirect method. Assume the following: Operating expenses for 2017 such as general and administrative) include depreciation and amor tization expense of $522 million. The company did not dispose of or write-down any long-term assets during the year. The company paid dividends of $159 million in 2017