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You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the

You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98.7 million in current taxes and had an interest expense of $48.7 million.

TIME MANUFACTURING Statement of Cash Flows ($ in millions)

Operations

Net income

$

180.0

Depreciation

94.7

Deferred taxes

19.7

Changes in assets and liabilities

Accounts receivable

18.7

Inventories

22.7

Accounts payable

17.7

Accrued expenses

9.7

Other

3.7

Total cash flow from operations

$

310.1

Investing activities

Acquisition of fixed assets

$

208.0

Sale of fixed assets

23.7

Total cash flow from investing activities

$

184.3

Financing activities

Retirement of long-term debt

$

169.0

Proceeds from long-term debt sales

123.0

Dividends

93.0

Repurchase of stock

20.0

Proceeds from new stock issue

51.0

Total cash flow from financing activities

$

108.0

Change in cash (on balance sheet)

$

17.8

1. Calculate the operating cash flow. (Do not round intermediate calculations. Enter your answer in millions, e.g., 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign. Round your answer to one decimal place, e.g., 32.1.) Operating cash flow $ 2. Calculate the net capital spending. (Do not round intermediate calculations. Enter your answer in millions, e.g., 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign. Round your answer to one decimal place, e.g., 32.1.) Net capital spending $ 3. Calculate the change in net working capital. (Do not round intermediate calculations. Enter your answer in millions, e.g., 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign. Round your answer to one decimal place, e.g., 32.1.) Change in net working capital $ 4. Calculate the cash flow to creditors. (Do not round intermediate calculations. Enter your answer in millions, e.g., 10.2 million would be entered as 10.2. A negative answer should be indicated by a minus sign. Round your answer to one decimal place, e.g., 32.1.) Cash flow to creditors $ 5. Calculate the cash flow to stockholders. (Do not round intermediate calculations. Enter your answer in millions, e.g., 10 million would be entered as 10. A negative answer should be indicated by a minus sign. Round your answer to nearest whole dollar amount, e.g., 32.) Cash flow to stockholders $

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