The chief accountant for Grandview Corporation provides you with the company's 2016 statement of cash Bows 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: Collections from customers $ 90 Payment to suppliers (33) Payment of general & administrative expenses Payment of income taxes (13) Net cash flows from operating activities $ 22 Cash Flows from Investing Activities Sale of investments 69 Cash Flows from Financing Activities: Issuance of common stock 10 Payment of dividends (22) Net cash flows from financing activities Net increase in cash $ 97 GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2016 Sales revenue $ 96 Cost of goods sold 36 60 Gross profit Operating expenses General and administrative Depreciation $ 22 14 Total operating expenses 36 24 Operating income Other income Gain on sale of investments 15 Income before income taxes Income tax expense 39 7 Net income $ 32 GRANDVIEW CORPORATION Balance Sheets At December 31 2016 2015 Assets: Cash Accounts receivable Investments Inventory Property, plant & equipment Less: Accumulated depreciation $ 160 $ ? ? 88 54 64 ? 154 154 (73) ? 2 ? 12 Total assets Liabilities and Shareholders' Equity: Accounts payable to suppliers Payables for selling & admin expenses Income taxes payable Common stock Retained earnings $ 48 $34 13 13 26 ? 244 234 7 40 Total liabilities and shareholders' equity Required: 1. Calculate the missing amounts. (Enter you answers in millions, i.e., 10,000,000 should be entered as 10) 63 2015 Cash 2016 Accounts receivable 2015 Inventory 2015 Accumulated depreciation 2015 Total assets 2016 Total assets 2015 Income taxes payable 2016 Retained earings 2015 Total liabilities and shareholders equity 2016 Total liabilities and shareholders equity 2. Prepare the operating activities section of Grandview's 2016 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter you answers in millions, i.e., 10,000,000 should be entered as 10) GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2016 (s in millions)