Svoboda Corporation comparative balance sheets at December 31 (in millions)

Svoboda Corporation statement of income and retained earnings, year ended December 31,20X2 (in millions)

a. Prepare a flow of funds (sources and uses of funds) statement for 20X2 for the Svoboda Corporation
b. Prepare a statement of cash flows for 20X2 using the indirect method for the Svoboda Corporation.

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LIABILITIES AND ASSETS Cash Accounts receivable Inventories Fixed assets, net Other assets 20x1 20X2 SHAREHOLDERS' EQUITY 20X1 20X2 $5 3 Notes payable $20 15 12 22 Accounts payable 15 Accrued wages 2 55 Accrued taxes 5 Long-term debt Common stock Retained earnings 15 26 40 44 20 Total liabilities and Total assets $90 $100 shareholders' equity 0100 $90 Net sales Expenses $48 Cost of goods sold Selling, general, and administrative expenses Depreciation Interest s25 237 $11 Less: Taxes Add: Retained earnings at 12/31/XI Less: Dividends Net income before taxes Net income Subtotal Retained earnings at 12/31/X2 $ 7 40 $47 $44