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 $98.4 million in current taxes and had an interest expense of $48.4 million.

Calculate the cash flow to stockholders.

$45

$70

$59

$62

TIME MANUFACTURING Statement of Cash Flows ($ in millions) $ 177.0 94.4 19.4 Operations Net income Depreciation Deferred taxes Changes in assets and liabilities Accounts receivable Inventories Accounts payable Accrued expenses Other -18.4 22.4 17.4 -9.4 3.4 Total cash flow from operations $ 306.2 Investing activities Acquisition of fixed assets Sale of fixed assets $ 211.0 23.4 Total cash flow from investing activities -$ 187.6 $ Financing activities Retirement of long-term debt Proceeds from long-term debt sales Dividends Repurchase of stock Proceeds from new stock issue 166.0 120.0 -90.0 -17.0 48.0 Total cash flow from financing activities -$ $ 105.0 13.6 Change in cash (on balance sheet)