Additional Problem 14-3

Required:

Use the information below to prepare a statement of cash flows for Windswept Woodworks, Incorporated for year 2. Net income is given.(Use a minus sign to indicate negative values. Round your answers to 2 decimal places.)

Windswept Woodworks, Incorporated
Input Data
(millions of dollars)
	Year 2		Year 1
Accounts payable	592		524
Accounts receivable	1,436		970
Accumulated depreciation	6,902		6,772
Cash & equivalents	380		268
Common stock	1,340		1,260
Cost of goods sold	1,560		n.a.
Depreciation expense	?		n.a.
Common stock dividends paid	?		n.a.
Interest expense	200		n.a.
Inventory	1,170		1,166
Addition to retained earnings	602		n.a.
Long-term debt	968		876
Notes payable	290		440
Gross plant & equipment	10,500		10,240
Retained earnings	3,218		2,616
Sales	3,078		n.a.
Other current liabilities	176		156
Tax rate	21%		n.a.
Market price per share year end	$ 24.80		$ 22.50
Number of shares outstanding	500	million	500	million