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The following information, in millions of dollars, has been reported by Maple Mills Inc. on its year-end financial statements for the years ended December 31,

The following information, in millions of dollars, has been reported by Maple Mills Inc. on its year-end financial statements for the years ended December 31, 2014 and December 31, 2013:

Statements of Financial Position

2014

2013

Cash

$178

$152

Trade Receivables

68

48

Inventory

56

64

Prepayments

24

20

Equipment

272

308

Accumulated Depreciation

-160

-192

Total Assets

$438

$400

Trade Payables

$48

$76

Income Taxes Payable

6

8

Long-term Notes Payable

50

40

Contributed Capital

230

200

Retained Earnings

104

76

Total Liabilities & Shareholders' Equity

$438

$400

Statement of Income

2014

Sales

$292

Cost of Sales

-168

Gross Profit

124

Depreciation Expense

-24

Other Operating Expenses

-68

Income from Operations

32

Gain on Sale of Equipment

8

Income before Income Tax

40

Income Tax Expense

-8

Net Income

$32

Additional Information:

Old equipment was sold for cash during 2014. It had an original cost of $80, and accumulated depreciation of $56.

Required

Prepare a Statement of Cash Flow for Maple Mills Inc. for the year ended December 31, 2014 using the indirect method. Space is provided on the next page for your response.

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