P$11-5($Algo$)($Appendix $11$A$)$ Preparing the Statement of Cash Flows with Sale of Equipment $($Indirect

Method$)$ LO$11-2,11-3,11-5,11-$S$1$

The following information has been reported by Laporte Inc. on its statements of financial position at December $31,2023$ and $2022$

and on its statement of earnings for the year ended December $31,2023.$ Amounts are in millions of dollars:

Additional information is as follows:

a$.$ Old equipment was sold for cash during $2023.$ It had an original cost of $$46$ and an accumulated depreciation of $$30.$

b$.$ A new building was acquired during the year in exchange for a long$-$term note for $$50,$ payable in five years. In addition, new

equipment was purchased for cash.

Prepare the investing activities section of the statement of cash flows for Laporte Inc. for the year ended December $31,2023.$

$($Negative answers should be indicated by a minus sign. Enter your answers in millions.$)$

Answer is complete but not entirely correct.

Required:

Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December $31,2023$ by

using the indirect method. $($Negative answers should be indicated by a minus sign. Enter your answers in millions.$)$

Answer is complete and correct.

LAPORTE INC.

Statement of Cash Flows $($Partial$)$

For the Year Ended December $31,2023$