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The following information has been reported by Laporte Inc. on its statements of financial position at December 3 1 , 2 0 2 3 and

The following information has been reported by Laporte Inc. on its statements of financial position at December 31,2023 and 2022 and on its statement of earnings for the year ended December 31,2023. Amounts are in millions of dollars:
Statements of Financial Position
20232022
Cash $ 120 $ 76
Accounts receivable 5240
Merchandise inventory 4248
Long-term investments -34
Property, plant, and equipment 201170
Accumulated depreciation (60)(80)
Total assets $ 355 $ 288
Accounts payable $ 40 $ 54
Income taxes payable 78
Long-term borrowings 10343
Share capital 114100
Retained earnings 9183
Total liabilities and shareholders equity $ 355 $ 288
Statement of Earnings
Sales $ 180
Cost of sales (108)
Gross profit 72
Depreciation expense (10)
Other operating expenses (45)
Earnings from operations 17
Gain on sale of investments 6
Loss on sale of equipment (2)
Earnings before income tax 21
Income tax expense 8
Net earnings $ 13
Additional information is as follows:
Old equipment was sold for cash during 2023. It had an original cost of $54 and an accumulated depreciation of $30.
A new building was acquired during the year in exchange for a long-term note for $60, payable in five years. In addition, new equipment was purchased for cash.
Required:
1. Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December 31,2023 by using the indirect method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.)
2. Prepare the investing activities section of the statement of cash flows for Laporte Inc. for the year ended December 31,2023.(Negative answers should be indicated by a minus sign. Enter your answers in millions.)
3. Compute each of the following for the year 2023: (a) quality of earnings ratio, (b) capital expenditures ratio, and (c) free cash flow. (Negative answers should be indicated by a minus sign. Round "Ratio" answers to 2 decimal places.)
4. Based on your answers to (1.) and (2.) above, determine the net cash flow from financing activities. (Hint: This can be done without preparing the financing activities section of the statement.)(Enter your answer in millions.)
5. The president of Laporte Inc., Tanya Turcotte, was provided with a copy of the operating activities section of the statement of cash flows that you prepared in (1), and made the following comment: This report is supposed to show operating cash inflows and outflows during the year, but I dont see how much cash Laporte Inc. received from customers and how much it paid to trade suppliers and for income taxes. Please ask whoever prepared this statement to provide me with these numbers. Based on Tanyas comment, compute the following amounts for 2023: (Enter your answers in millions.)

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