Using the Balance Sheet & Income Statement Data complete a Statement of Cash Flow for Bob's Bowling Balls, Inc.

Using the Balance Sheet & Income Statement data calculate the Economic Value Added in 2016 for for Bob's Bowling Balls, Inc. Assume a tax rate of 40% and a Cost of Capital of 8%. (show your work)

Balance Sheet: Bob's Bowling Balls, Inc.(in millions of dollars)
	2016	2015
Cash and equivalents	110	80
Accounts receivable	375	315
Inventories	615	415
Total current assets	1,100	810
Gross Fixed Assets	2,000	1,870
Less: Accumulated Depreciation	1,100	1,000
Net Fixed Assets	900	870
Total assets	2,000	1,680
Liabilities and Equity
Accounts payable	60	30
Accruals	140	130
Notes payable	110	60
Total current liabilities	310	220
Long-term debt	750	580
Total debt	1,060	800
Common stock (50,000,000 shares)	130	130
Retained earnings	810	750
Total common equity	940	880
Total liabilities and equity	2,000	1,680
INCOME STATEMENT - Bob's Bowling Balls, Inc.
(in millions of dollars)	2016	2015
Net sales	3,000	2,850
Operating costs except depreciation and amortization	2,616.20	2,497
Depreciation and amortization	100.0	90
Earnings before interest and taxes (EBIT)	283.80	263
Less interest	88	60
Earnings before taxes (EBT)	195.80	203
Taxes	78.30	81.20
Net income	117.5	121.8

STATEMENT OF CASH FLOWS
Parentheses indicate net cash outflows, no parentheses indicates net cash inflows.
I. Operating Activities
Net income
Depreciation and amortization
Decrease or (increase) in inventories
Decrease or (increase) in accounts receivable
Increase or (decrease) in accounts payable
Increase or (decrease) in accruals
Net cash provided by (used in) operating activities	0
II. Long-Term Investing Activities
Cash used for (additions) to property, plant & equip.
Net cash used in investing activities	0
III. Financing Activities
Increase (or decrease) in notes payable
Increase (or decrease) in long term debt
Payment of dividends to stockholders	-57.5
Net cash provided by financing activities	-57.5
IV. Summary
Net decrease in cash and equivalents: (Net sum of I, II, III)	-57.5
Cash at beginning of the year
Cash at end of the year	-57.5