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Use the balance sheet and income statement below: CLANCY S DOG BISCUIT CORPORATION Balance Sheet as of December 3 1 , 2 0 2 1

Use the balance sheet and income statement below:
CLANCYS 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 $ 90 $ 89 Accrued wages and taxes $ 66 $ 59
Accounts receivable 208199 Accounts payable 168159
Inventory 330309 Notes payable 149149
Total $ 628 $ 597 Total $ 383 $ 367
Fixed assets: Long-term debt $ 656 $ 592
Gross plant and equipment $ 1,127 $ 918 Stockholders equity:
Less: Accumulated depreciation 182131 Preferred stock (6 thousand shares) $ 6 $ 6
Net plant and equipment $ 945 $ 787 Common stock and paid-in surplus (100 thousand shares)120120
Other long-term assets 170170 Retained earnings 578469
Total $ 1,115 $ 957 Total $ 704 $ 595
Total assets $ 1,743 $ 1,554 Total liabilities and equity $ 1,743 $ 1,554
CLANCYS DOG BISCUIT CORPORATION
Income Statement for Years Ending December 31,2021 and 2020
(in millions of dollars)
20212020
Net sales $ 928 $ 838
Less: Cost of goods sold 407370
Gross profits $ 521 $ 468
Less: Other operating expenses 6559
Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 456 $ 409
Less: Accumulated depreciation (2018)5149
Earnings before interest and taxes (EBIT) $ 405 $ 360
Less: Interest 6660
Earnings before taxes (EBT) $ 339 $ 300
Less: Taxes 149129
Net income $ 190 $ 171
Less: Preferred stock dividends $ 6 $ 6
Net income available to common stockholders $ 184 $ 165
Less: Common stock dividends 7575
Addition to retained earnings $ 109 $ 90
Per (common) share data:
Earnings per share (EPS) $ 1.84 $ 1.65
Dividends per share (DPS) $ 0.75 $ 0.75
Book value per share (BVPS) $ 6.98 $ 5.89
Market value (price) per share (MVPS) $ 8.01 $ 6.37
Prepare a statement of cash flows for Clancys Dog Biscuit Corporation. (Enter your answers in millions of dollars. Amounts to be deducted should be indicated with a minus sign.)

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