1 Financial Statements Britton String Corp.: Partial Balance Sheets as of December 31 (Millions of Dollars) a. Constructing Britton String's income statement Britton String: financial information for 2022 Sales Operating costs excl. depr. as a \% of sales Depr. as a % of net fixed assets Tax rate Interest expense Dividend payout ratio b. Finding the missing values in the balance sheet as of December 31,2022 Common stock issued in 2022 $32 million Britton String Corp.: Partial Balance Sheets as of December 31 (Millions of Dollars) \begin{tabular}{l|l} \hline 60 & \\ 61 & Common stock \\ 62 & Retained eamings \\ 63 & Total common equity \\ 64 & Total liabilities and equity \end{tabular} \begin{tabular}{cc|} \hline 2022 & Formulas \\ \hline & \#N/A \\ \#N/A \\ \hline & \#N/A \\ \hline \#N/A \\ \hline \hline \end{tabular} c. Constructing the statement of cash flows for 2022 Britton String Corp.: Statement of Cash Flows for 2022 (Millions of Dollars) Operating Activities Net income \begin{tabular}{|c|c|} \hline 2022 & Formulas \\ \hline & \#N/A \\ \hline & \#N/A \\ \hline & \#N/A \\ \#N/A \\ \#N/A \\ \#N/A \\ \hline \#N/A \\ \hline \end{tabular} Investing Activities \begin{tabular}{|l|l|l} \hline 81 & Cash used to acquire fixed assets & \#N/A \\ 82 & Due to change in short-term investments & \#N/A \\ 83 & Net cash provided (used) by investing activities & \#N/A \\ 84 & & \\ 85 & Financing Activities & \#N/A \\ 86 & Due to change in notes payable & \#N/A \\ 87 & Due to change in long-term debt & \#N/A \\ 88 & Due to change in common stock & \#N/A \\ 89 & Payment of common dividends & \#N/A \\ 90 & Net cash provided (used) by financing activities & \\ 91 & & \#N/A \\ 92 & Summary & \#N/A \\ 93 & Net increase/decrease in cash & \#N/A \\ 94 & Cash at the beginning of the year & M \\ 95 & Cash at the end of the year & \# \\ 96 & & \end{tabular}