Use the balance sheet and income statement below :

CLANCYS DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars)

Assets

2015

2014

Liabilities and Equity

2015

2014

Current assets:

Current liabilities:

Cash and marketable securities

$

3

$

3

Accrued wages and taxes

$

16

$

14

Accounts receivable

27

25

Accounts payable

24

22

Inventory

37

30

Notes payable

26

20

Total

$

67

$

58

Total

$

66

$

56

Fixed assets:

Long-term debt:

$

24

$

22

Gross plant and equipment

$

101

$

80

Stockholders equity:

Less: Depreciation

28

20

Preferred stock (2 million shares)

$

2

$

2

Common stock and paid-in surplus

Net plant and equipment

$

73

$

60

(5 million shares)

11

11

Other long-term assets

23

23

Retained earnings

60

50

Total

$

96

$

83

Total

$

73

$

63

Total assets

$

163

$

141

Total liabilities and equity

$

163

$

141

CLANCYS DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2015 and 2014 (in millions of dollars)
	2015				2014
Net sales	$	98			$	102
Less: Cost of goods sold		49				45
Gross profits	$	49			$	57
Less: Other operating expenses		10				9
Earnings before interest, taxes depreciation, and amortization (EBITDA)	$	39			$	48
Less: Depreciation		8				8
Earnings before interest and taxes (EBIT)	$	31			$	40
Less: Interest		9				9
Earnings before taxes (EBT)	$	22			$	31
Less: Taxes		8				16
Net income	$	14			$	15
Less: Preferred stock dividends	$	1			$	1
Net income available to common stockholders	$	13			$	14
Less: Common stock dividends		3				3
Addition to retained earnings	$	10			$	11
Per (common) share data:
Earnings per share (EPS)	$	2.60			$	2.80
Dividends per share (DPS)	$	0.60			$	0.60
Book value per share (BVPS)	$	14.20			$	12.20
Market value (price) per share (MVPS)	$	14.85			$	15.60

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. Leave no cells blank - be certain to enter "0" wherever required.)

Statement of Cash Flows for Year Ending December 31, 2015 (in millions of dollars)
A. Cash flows from operating activities
(Click to select)Net incomeNet loss	$
Additions (sources of cash):
(Click to select)Increase in accounts payableIncrease in long-term debtIncrease in accrued wages and taxesIncrease in notes payableDepreciation
(Click to select)Increase in accrued wages and taxesDepreciationIncrease in long-term debtIncrease in accounts payableIncrease in notes payable
(Click to select)Increase in accounts payableIncrease in long-term debtIncrease in accrued wages and taxesIncrease in notes payableDepreciation
Subtractions (uses of cash):
(Click to select)Increase in inventoryIncrease in long-term debtIncrease in accounts receivableIncrease fixed assetsIncrease in notes payable
(Click to select)Increase fixed assetsIncrease in inventoryIncrease in accounts receivableIncrease in long-term debtIncrease in notes payable
Net cash flow from operating activities	$
B. Cash flows from investing activities
Subtractions:
(Click to select)Increase in fixed assetsIncrease in other long-term assetsIncrease in accrued wages and taxesDepreciationIncrease in accounts payable	$
(Click to select)Increase in accounts payableIncrease in accrued wages and taxesIncrease in fixed assetsIncrease in other long-term assetsDepreciation
Net cash flow from investing activities	$
C. Cash flows from financing activities
Additions:
(Click to select)Increase in accounts payableIncrease accrued wages and taxesIncrease in notes payableIncrease in common and preferred stockIncrease in long-term debt	$
(Click to select)Increase in notes payableIncrease accrued wages and taxesIncrease in long-term debtIncrease in accounts payableIncrease in common and preferred stock
(Click to select)Increase in common and preferred stockIncrease in long-term debtIncrease accrued wages and taxesIncrease in accounts payableIncrease in notes payable
Subtractions:
(Click to select)Increase in other long-term assetsPreferred stock dividendsIncrease accrued wages and taxesIncrease in accounts payableCommon stock dividends
(Click to select)Increase in other long-term assetsPreferred stock dividendsIncrease accrued wages and taxesIncrease in accounts payableCommon stock dividends
Net cash flow from financing activities