Use the balance sheet and income statement below: 2021 2020 Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Liabilities and Equity Current liabilities: $ $ 4 $ 4 Accrued wages and taxes 30 26 Accounts payable 39 31 Notes payable $ 73 $ 61 Total Long-term debt $ 99 $ 82 Stockholders' equity: 30 21 Preferred stock (2 million shares) $ 69 $ 61 Common stock and paid-in-surplus (5 million shares 24 24 Retained earnings $ 93 $ 85 Total $166 $146 Total liabilities and equity $ 17 25 28 $ 70 $ 23 $ 15 23 21 $ 59 $ 23 $ 2 11 60 $ 73 $166 21:11 51 $ 64 $146 CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Net sales $ 100 $ 104 Less: Cost of goods sold 51 47 Gross profits 49 $ 57 Less: Other operating expenses 11 10 Earnings before interest, taxes depreciation, and amortization (EBITDA) $ 38 $ 47 Less: Accumulated depreciation 9 9 Earnings before interest and taxes (EBIT) 29 $ 47 Less: Interest 10 10 Earnings before taxes (EBT) $ 19 $ 28 Less: Taxes 4 6 Net income $ 15 $ 22 Less: Preferred stock dividends 1 $ 1 Net income available to common stockholders $ 14 $ 21 Less: Common stock dividends 5 5 5 5 Addition to retained earnings $ 9 9 $ 16 Per (common) share data: Earnings per share (EPS) $ 2.80 $ 4.20 Dividends per share (DPS) $ 1.00 $ 1.00 Book value per share (BVPS) $14.20 $12.40 Market value (price) per share (MVPS) $14.85 $15.80 DET Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign.) Prepare a statement of cash flows for Clancy's Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Additions (sources of cash): Subtractions (uses of cash): Net cash flow from operating activities Cash flows from investing activities Subtractions: Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions: Net cash flow from financing activities Net change in cash and marketable securities