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The chief accountant for Grandview Corporation provides you with the companys 2016 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the companys comparative balance sheets. These financial statements are shown next ($ in millions).

GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2016
Cash Flows from Operating Activities:
Collections from customers	$	79
Payment to suppliers		(32	)
Payment of general & administrative expenses		(20	)
Payment of income taxes		(11	)
Net cash flows from operating activities				$	16
Cash Flows from Investing Activities:
Sale of investments					67
Cash Flows from Financing Activities:
Issuance of common stock		12
Payment of dividends		(7	)
Net cash flows from financing activities					5
Net increase in cash				$	88

GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2016
Sales revenue			$	88
Cost of goods sold				34
Gross profit				54
Operating expenses:
General and administrative	$	20
Depreciation		12
Total operating expenses				32
Operating income				22
Other income:
Gain on sale of investments				15
Income before income taxes				37
Income tax expense				8
Net income			$	29

GRANDVIEW CORPORATION Balance Sheets At December 31
	2016			2015
Assets:
Cash	$	147		$	?
Accounts receivable		?			86
Investments					52
Inventory		62			?
Property, plant & equipment		152			152
Less: Accumulated depreciation		(69	)		?
Total assets		?			?
Liabilities and Shareholders Equity:
Accounts payable to suppliers	$	42		$	32
Payables for selling & admin. expenses		11			11
Income taxes payable		24			?
Common stock		244			232
Retained earnings		?			44
Total liabilities and shareholders equity		?			?

Required:
1.	Calculate the missing amounts. (Enter you answers in millions, i.e., 10,000,000 should be entered as 10)

2.	Prepare the operating activities section of Grandviews 2016 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter you answers in millions, i.e., 10,000,000 should be entered as 10)

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