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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 $99.1 million in current taxes and had an interest expense of $49.1 million. TIME MANUFACTURING Statement of Cash Flows (in $ millions) Operations Net income $ 184.0 Depreciation 95.1 Deferred taxes 20.1 Changes in assets and liabilities Accounts receivable 19.1 Inventories 23.1 Accounts payable 18.1 Accrued expenses 10.1 Other 4.1 Total cash flow from operations $ 315.3 Investing activities Acquisition of fixed assets $ 204.0 Sale of fixed assets 24.1 Total cash flow from investing activities $ 179.9 Financing activities Retirement of long-term debt $ 173.0 Proceeds from long-term debt sales 127.0 Dividends 97.0 Repurchase of stock 24.0 Proceeds from new stock issue 55.0 Total cash flow from financing activities $ 112.0 Change in cash (on balance sheet) $ 23.4 a. Calculate the operating cash flow. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to 1 decimal place, e.g., 10.2 million would be entered as 10.2.) b. Calculate the net capital spending. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to 1 decimal place, e.g., 10.2 million would be entered as 10.2.) c. Calculate the change in net working capital. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to 1 decimal place, e.g., 10.2 million would be entered as 10.2.) d. Calculate the cash flow to creditors. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to 1 decimal place, e.g., 10.2 million would be entered as 10.2.) e. Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in millions, rounded to 1 decimal place, e.g., 10.2 million would be entered as 10.2.)

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