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 Cash $ 91 Accounts receivable 35 Merchandise inventory 29 Long-term investments Property, plant, and equipment 199 Accumulated depreciation (79) Total assets $ 275 2016 $ 69 25 33 19 157 (97) $206 Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings $ 25 4 81 117 40 5 21 101 39 48 Total liabilities and shareholders' equity $ 275 $206 Statement of Earnings Sales Cost of sales $ 143 (85) Gross profit Depreciation expense Other operating expenses 58 (11) (34.5) 12.5 7 (3) Earnings from operations Gain on sale of investments Loss on sale of equipment Earnings before income tax Income tax expense 16.5 6.6 Net earnings $ 9.9 Additional information is as follows: a. Old equipment was sold for cash during 2017. It had an original cost of $41 and an accumulated depreciation of $29. b. 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 a statement of cash flows for Laporte Inc. for the year ended December 31, 2017 by using the direct method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities: Collections from customers $ 133.0 Cash payments: To suppliers For other operating expenses For income taxes $ 133.0 Net cash used for operating activities Cash flows from investing activities: Sale of equipment Purchase of equipment Sale of long-term investment 0.0 Net cash flow from investing activities Cash flows from financing activities: Dividends paid Issuance of shares 0.0 133.0 Net cash flow from financing activities Net increase in cash Cash balance, January 1, 2017 Cash balance, December 31, 2017 $ 133.0