The consolidated balance sheets for the Landon Lumber Company at the beginning and end

of $2009$ follow. The company bought $$50$ million worth of fixed assets. The charge for

depreciation in $2009$ was $$10$ million. Net income was $$33$ million, and the company paid

out $$5$ million in dividends.

a$.$ Fill in the amount of the source or use in the appropriate column.

LANDON LUMBER COMPANY: BALANCE SHEET AT BEGINNING

AND END OF $2009($Millions of Dollars$)$

CHANGE

Cash

Marketable Securities

Net Receivables

Inventories

Total current assets

Gross fixed assets

Less accumulated depreciation

Net fixed assets

Total assets

Accounts Payable

Notes Payable

Other Current Liabilities

Long$-$term debt

Common Stock

Retained Earnings

Total Liabilities and equity

Jan. $1$

$ $7$

$0$

$30$

$53$

$$90$

Jan. $1$

$ $18$

Dec. $31$ Source

$ $15$

$11$

$22$

$75$

$$123$

Dec. $31$ Source

$125$

$35$ $$90$

$$213$

$ $15$

$15$

$7$

$24$

$57$

$95$

$$213$

Use

CHANGE

Notes: Total sources must equal total uses.

b$.$ Prepare a statement of cash flows

c$.$ Briefly summarize your findings.