Use the balance sheet and income statement below: 2021 2020 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: $ 9 $ 9 Accrued wages and taxes 40 31 Accounts payable 43 36 Notes payable $92 $ 76 Total Long-term debt $114 $92 Stockholders' equity: 33 26 Preferred stock (2 million shares) $ 81 $ 66 Common stock and paid-in-surplus (5 million shares) 29 29 Retained earnings $110 $ 95 Total $202 $171 Total liabilities and equity $ 16 28 27 5 71 $ 44 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 $ 8 26 24 $ 58 $ 44 | | @g $ 2 11 74 $ 87 5202 S2 11 56 $69 $171 CLANCY'S DOG BISCUIT CORPORATION Incone Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Net sales $ 110 $ 114 Less: Cost of goods sold 56 52 Gross profits 5 54 $ 62 Less: Other operating expenses 9 8 Earnings before interest, taxes depreciation, and amortization (EBITDA) $ 45 $ 54 Less: Accumulated depreciation 7 7 Earnings before interest and taxes (EBIT) $ 38 $ 54 Less: Interest 7 2 Earnings before taxes (EBT) $ 31 $ 40 Less: Taxes 7 B Net income $ 24 $ 32 Less: Preferred stock dividends $ 1 5 1 Net income available to conmon stockholders $ 23 S 31 Less Common stock dividends 5 5 Addition to retained earnings $ 18 $ 26 Per (conmon) share data Earnings per there (UPS) $ 4.60 $ 6.20 Dividends per share (OPS) $ 1.00 $ 1.00 Book value per share (BVPS) $17.00 $13.40 Market value (price) per share (HVPS) $17.65 $16.00 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