b. Britton Strings partial balance sheets follow. Britton issued $36 million of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity.
							Dollar value of common stock issued (in millions of dollars)				$36
Britton String Corp: December 31 Balance Sheets
(Millions of dollars)
				2020	2019
Assets
Cash and cash equivalents				$70	$60
Short-term investments				$46	$42
Accounts Receivable				$120	$140
Inventories				$264	$196
Total current assets				$500	$438
Net fixed assets				$300	$262
Total assets				$800	$700
Liabilities and equity
Accounts payable				$73	$64
Accruals				$49	$60
Notes payable				$30	$39
Total current liabilities				$152	$163
Long-term debt				$217	$178
Total liabilities				$369	$341
Common stock					$249
Retained earnings					$110
Total common equity					$359
Total liabilities and equity					$700
			Always check for balancing (these should be zero):	$800.0000	$0.0000
c. Construct the statement of cash flows for the most recent year.
Statement of Cash Flows
(in thousands of dollars)
				2020
Operating Activities
Net Income
Adjustments:
Noncash adjustment:
Depreciation
Due to changes in working capital:
Due to change in accounts receivable
Due to change in inventories
Due to change in accounts payable
Due to change in accruals
Net cash provided (used) by operating activities
Investing Activities
Cash used to acquire gross fixed assets
Due to change in short-term investments
Net cash provided (used) by investing activities
Financing Activities
Due to change in notes payable
Due to change in long-term debt
Due to change in common stock
Payment of common dividends
Net cash provided (used) by financing activities
Net increase/decrease in cash
Add: Cash balance at the beginning of the year
Cash balance at the end of the year
Check: cash balance in statement of cash flows should equal the cash on balance sheets; this value should be zero:				$70.000