Question 3 (of 3) The chief accountant for Grandview Corporation provides you wi

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Question 3 (of 3) The chief accountant for Grandview Corporation provides you with the company's 2016 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the company's comparative balance sheets. These financial statements are shown next (S in mllions) GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2016 Cash Flows from Operating Activities Collections from customers Payment to suppliers Payment of general & administrative expenses Payment of income taxes $ 71 (30) (18) Net cash flows from operating activities Cash Flows from Investing Activities $ 14 Sale of investments 65 Cash Flows from Financing Activities Issuance of common stock Payment of dividends 10 Net cash flows from financing activities Net increase in cash $ 86 Type here to search up

Explanation / Answer

Answer to Question 1:

Workings:

Answer to question 2:

2015 Cash 59 2016 Accounts Receivable 93 2015 Inventory 52 2015 Accumulated Depreciation 55 2015 Total Assets 340 2016 Total Assets 383 2015 Income Taxes Payable 24 2016 Retained Earnings 72 2015 Total liabilities and share holders equity 340 2016 Total liabilities and share holders equity 383

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