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Time Warner Inc. is a leading media and entertainment company whose businesses include Turner, Home Box Office, and Warner Bros. A number of years ago,

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Time Warner Inc. is a leading media and entertainment company whose businesses include Turner, Home Box Office, and Warner Bros. A number of years ago, the company's annual report contained the following information (dollars in millions): Net loss Depreciation, amortization, and impairments Decrease in receivables Increase in inventories Decrease in accounts payable Additions to equipment $(13,402) 34,790 1,245 5,766 445 4,377 Source: Time Warner Inc. Required: 1. Based on this information, compute cash flow from operating activities using the indirect method. (Enter your answers in millions. List loss amounts and cash outflows as negative amounts.) TIME WARNER INC Statement of Cash Flows (Partial) Cash flows from operating activities

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