Roupenian Corp.

Balance Sheets as of December 31

(in millions)	2017	2016
Assets: Cash	$ 8	$ 25
Accounts Receivable	40	28
Inventory	70	50
Prepaid Rent	5	3
Plant Assets	253	170
Accumulated Depreciation of Plant Assets	(52)	(20)
Total Assets	$324	$256
Liabilities and Shareholders Equity: Accounts Payable	$ 74	$ 60
Wages Payable	3	2
Short-Term Loans	20	30
Long-Term Debt	25	---
Common Stock	105	70
Retained Earnings	97	94
Total Liabilities and Shareholders Equity	$324	$256

Roupenian Corp.

Income Statement for the Year Ended December 31, 2017

(in millions)
Sales		$ 250
COGS		140
Gross Profit		$ 110
Total Operating Expenses		90
Loss on Sale of Plant Assets		3
Tax Expense		10
Net Income		$ 7

Additional information for the year ending December 31, 2017:

• Roupenian Corp. paid $98 million in cash to acquire new plant assets to expand operations. Plant assets with a book value of $10 million were sold during the year.
• New Common Stock was issued for cash. No Common Stock was repurchased.
• ShortTerm Loans were repaid (repurchased) with cash with no resulting gain or loss. No new Short-Term Loans were issued.
• New LongTerm Debt was issued for cash. No Long-Term Debt was repaid.
• Dividends were declared and the same amount was paid in cash.

Prepare a Statement of Cash Flows (all three sections) using the indirect method for the Cash Flow from Operations section, for the year ended December 31, 2017.

Roupenian Corp.

Statement of Cash Flows

Year ended December 31, 2017 - (in millions)