Use the balance sheet and income statement below:

CLANCY$$S DOG BISCUIT CORPORATION

Balance Sheet as of December $31,2021$ and $2020$

$($in millions of dollars$)$

Assets $20212020$ Liabilities and Equity $20212020$

Current assets: Current liabilities:

Cash and marketable securities $ $88$ $ $87$ Accrued wages and taxes $ $62$ $ $57$

Accounts receivable $205197$ Accounts payable $164157$

Inventory $323307$ Notes payable $147147$

Total $ $616$ $ $591$ Total $ $373$ $ $361$

Fixed assets: Long$-$term debt $ $644$ $ $588$

Gross plant and equipment $ $1,121$ $ $914$ Stockholders$$ equity:

Less: Accumulated depreciation $178129$ Preferred stock $(6$ thousand shares$)$ $ $6$ $ $6$

Net plant and equipment $ $943$ $ $785$ Common stock and paid$-$in surplus $(100$ thousand shares$)120120$

Other long$-$term assets $166166$ Retained earnings $582467$

Total $ $1,109$ $ $951$ Total $ $708$ $ $593$

Total assets $ $1,725$ $ $1,542$ Total liabilities and equity $ $1,725$ $ $1,542$

CLANCY$$S DOG BISCUIT CORPORATION

Income Statement for Years Ending December $31,2021$ and $2020$

$($in millions of dollars$)$

$20212020$

Net sales $ $924$ $ $834$

Less: Cost of goods sold $405368$

Gross profits $ $519$ $ $466$

Less: Other operating expenses $6357$

Earnings before interest, taxes, depreciation, and amortization $($EBITDA$)$ $ $456$ $ $409$

Less: Accumulated depreciation $(2018)4947$

Earnings before interest and taxes $($EBIT$)$ $ $407$ $ $362$

Less: Interest $6458$

Earnings before taxes $($EBT$)$ $ $343$ $ $304$

Less: Taxes $147127$

Net income $ $196$ $ $177$

Less: Preferred stock dividends $ $6$ $ $6$

Net income available to common stockholders $ $190$ $ $171$

Less: Common stock dividends $7575$

Addition to retained earnings $ $115$ $ $96$

Per $($common$)$ share data:

Earnings per share $($EPS$)$ $ $1\mathrm{.}90$ $ $1\mathrm{.}71$

Dividends per share $($DPS$)$ $ $0\mathrm{.}75$ $ $0\mathrm{.}75$

Book value per share $($BVPS$)$ $ $7\mathrm{.}02$ $ $5\mathrm{.}87$

Market value $($price$)$ per share $($MVPS$)$ $ $8\mathrm{.}05$ $ $6\mathrm{.}35$

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.$)$