The J.M. Smucker Company had net sales of $1,311 million from selling products such as jam (Smuckers), peanut butter (Jif), and vegetable oils (Crisco) for the year ending April 30, 2003. The income statement showed operating expenses of $1,147 million, other expenses of $9 million, and income taxes of $59 million. Assume depreciation and amortization affect operating expenses and that other noncash items affect other expenses. The companys statement of cash flows, prepared under the indirect method, also contained the following items (where negative numbers represent cash outflows): Issuance of common stock $ 7million Dividends paid (34) million Additions to property, plant, and equipment (49) million Business acquired (11) million Disposal of property, plant, and equipment 7 million Net income 96 million Depreciation and amortization 34 million Changes in operating assets and liabilities Trade receivables (43) million Inventories (12) million Accounts payable and accrued liabilities 56 million Income taxes 23 million Other 12 million 1. Prepare the statement of cash flows for J.M. Smucker using the direct method. Omit the schedule reconciling net income to net cash provided by operating activities.