You are a staff accountant in the corporate controller's office at Gamma Ten Corporation, an energy exploration and extraction company. Gamma Ten reports the following:

Instructions:

You are required to prepare a draft of a statement of cash flows for 2022, with all required disclosures, for your supervisor's review.

Note the following: - Gamma Ten's cost accounting system collects many personnel and facility charges into cost of goods sold. Cost of goods sold includes $142.5 of depreciation and depletion charges, $20.3 million of amortization charges on limited life intangible assets, and $1.1 million of pension expense. - General and administrative expenses includes $4.9 million of depreciation charges and $0.3 million of pension expense. - Losses from disposals of fixed assets includes $9.2 million of losses incurred in various transactions when Gamma Ten sold assets with $36.1 million of book value for $26.9 million in cash. The remaining $0.7 million resulted from the exchange of land to settle an asset retirement obligation (see below). - Gamma Ten declared and paid \$59.0 million of common dividends in 2022. Note the following: - Gamma Ten pald $597.5 miliion in cash to purchase property, plant and equipment assets during 2022. * Gamma Ten paid $51.2 million to retire long term debt in 2022 , and borrowed $2.6 milion in new debt on long term notes. - Gamma Ten contributed $4.0 million cash into its pension fund in 2022 . There are no OClor accumulated OCl balances relating to the pension planu - The only stock transaction in 2022 occuered when Gamma Ten exchanged common stock from the freasury for property, plant and equipment assets with a fair value of 51.7 million. You have been assigned the task of drafting the statement of cash flows for 2022 . Information has been provided to you about the following transactions. Nationalization of foreign investments In August of 2022, a mining operation in an overseas territory was nationalized by the local government. Gamma Ten had insurance against such an event, and recorded the following upon settlement of the claim: The amount of the insurance settlement was determined as follows, based on fair values of the assets forfeited: Joint Venture On February 28, 2022, Gamma Ten made an investment in a shale oil joint venture. A 33.33% ownership stake in the joint venture was purchased for $8.8 million, ard the investment was recorded as an equity method investment. The following was recorded at the time of the investment: Equity method investment 8,800,000 Cash 8,800,000 For the vear, the joint venture reported $3.3 million of net income, and paid $4.5 million in dividends. Since the joint venture has a single purpose to extract resources from a single natural resource deposit (at the conclusion of which, the company will be liquidated), all dividends are treated as returns of investment (not returns on investment). Gamma Ten records the following for its ownership in the joint venture for 2022: Asset Retirement Obligation Gamma Ten owned land with a book value of $2.7 million. On the land is a coal deposit, now fully depleted, and Gamma Ten also had a properly recorded asset retirement obligation of $4 million (included in "Other current liabilities" at the end of 2021) for the work required to restore the land after the completion of mining. In April, 2022, GMI Environmental Solutions, Inc. was contracted to perform the cleanup work for $4 million. GMI agreed to accept in payment $2 million in cash and ownership of the land after the work was completed. The following was recorded: Note the following: - Gamma Ten's cost accounting system collects many personnel and facility charges into cost of goods sold. Cost of goods sold includes $142.5 of depreciation and depletion charges, $20.3 million of amortization charges on limited life intangible assets, and $1.1 million of pension expense. - General and administrative expenses includes $4.9 million of depreciation charges and $0.3 million of pension expense. - Losses from disposals of fixed assets includes $9.2 million of losses incurred in various transactions when Gamma Ten sold assets with $36.1 million of book value for $26.9 million in cash. The remaining $0.7 million resulted from the exchange of land to settle an asset retirement obligation (see below). - Gamma Ten declared and paid \$59.0 million of common dividends in 2022. Note the following: - Gamma Ten pald $597.5 miliion in cash to purchase property, plant and equipment assets during 2022. * Gamma Ten paid $51.2 million to retire long term debt in 2022 , and borrowed $2.6 milion in new debt on long term notes. - Gamma Ten contributed $4.0 million cash into its pension fund in 2022 . There are no OClor accumulated OCl balances relating to the pension planu - The only stock transaction in 2022 occuered when Gamma Ten exchanged common stock from the freasury for property, plant and equipment assets with a fair value of 51.7 million. You have been assigned the task of drafting the statement of cash flows for 2022 . Information has been provided to you about the following transactions. Nationalization of foreign investments In August of 2022, a mining operation in an overseas territory was nationalized by the local government. Gamma Ten had insurance against such an event, and recorded the following upon settlement of the claim: The amount of the insurance settlement was determined as follows, based on fair values of the assets forfeited: Joint Venture On February 28, 2022, Gamma Ten made an investment in a shale oil joint venture. A 33.33% ownership stake in the joint venture was purchased for $8.8 million, ard the investment was recorded as an equity method investment. The following was recorded at the time of the investment: Equity method investment 8,800,000 Cash 8,800,000 For the vear, the joint venture reported $3.3 million of net income, and paid $4.5 million in dividends. Since the joint venture has a single purpose to extract resources from a single natural resource deposit (at the conclusion of which, the company will be liquidated), all dividends are treated as returns of investment (not returns on investment). Gamma Ten records the following for its ownership in the joint venture for 2022: Asset Retirement Obligation Gamma Ten owned land with a book value of $2.7 million. On the land is a coal deposit, now fully depleted, and Gamma Ten also had a properly recorded asset retirement obligation of $4 million (included in "Other current liabilities" at the end of 2021) for the work required to restore the land after the completion of mining. In April, 2022, GMI Environmental Solutions, Inc. was contracted to perform the cleanup work for $4 million. GMI agreed to accept in payment $2 million in cash and ownership of the land after the work was completed. The following was recorded