The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2016 and 2017, and on its statement of earnings for the year ended December 31, 2017. Amounts are in millions of dollars: Statements of Financial Position 2017 2016 Cash $ 114 $ 80 Accounts receivable 46 36 Merchandise inventory 40 44 Long-term investments 30 Property, plant, and equipment 232 190 Accumulated depreciation (90) (108) Total assets $ 342 $272 Accounts payable $ 36 62 Income taxes payable 15 16 Long-term borrowings 92 32 Contributed capital 139 112 Retained earnings 60 50 Total liabilities and shareholders' $ 342 $272 equity Statement of Earnings Sales $ 176 Cost of sales (96) Gross profit 80 Depreciation expense Other operating expenses Earnings from operations Gain on sale of investments Loss on sale of equipment Earnings before income tax Income tax expense (22) (40.0) 18.0 18 (14) 22.0 8.8 Net earnings $ 13.2