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The following information has been reported by Laporte Inc. on its statements of financial position at December 31, 2016 and 2017, and on its statement of earnings for the year ended December 31, 2017. Amounts are in millions of dollars: 2016 $ 75 31 Statements of Financial Position 2017 Cash $ 104 Accounts receivable Merchandise inventory Long-term investments Property, plant, and equipment 217 Accumulated depreciation (85) 41 35 39 25 175 (103) Total assets $ 312 $ 242 $ 31 52 Accounts payable Income taxes payable Long-term borrowings Contributed capital Retained earnings 10 87 11 27 107 45 129 Total liabilities and shareholders' equity $ 312 $ 242 Statement of Earnings Sales Cost of sales $ 161 (91) 70 Gross profit Depreciation expense Other operating expenses (17) (37.5) 15.5 Earnings from operations Gain on sale of investments Loss on sale of equipment 13 (9) Earnings before income tax Income tax expense 19.5 7.8 Net earnings $ 11.7 Additional information is as follows: a. Old equipment was sold for cash during 2017. It had an original cost of $47 and an accumulated depreciation of $35. b. A new building was acquired during the year in exchange for a long-term note for $60, payable in five years. In addition, new equipment was purchased for cash. Required: 1. Prepare a statement of cash flows for Laporte Inc. for the year ended December 31, 2017 by using the direct method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities: Cash payments: $ 0.0 Net cash used for operating activities Cash flows from investing activities: 0.0 Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities 0.0 0.0 Cash balance, January 1, 2017 Cash balance, December 31, 2017 $ 0.0

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