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Unformatted text preview: Statement of Cash Flow 2 Statement of Cash Flow 5-48 Statement of Cash Flows, Direct Method (in Millions) Issuance of common stock $7 Dividends paid $(34) Additions to property, plant, and equipment $(49) Business acquired $(11) Disposal of property, plant, and equipment $7 Net income $96 Depreciation and amortization $34 Changes in operating assets and liabilities Trade receivables $(43) Inventories $(12) Account Payable and accrued liabilities $56 Income taxes $23 Other $12 The J.M. Smucker Company had net sales of $1,311 milllion from selling products such as jam (Smuckers), peanut butter (jif), and vegetable oils (Crisco) for the year ending April 30, 2003. The income statement showed operating expenses of $1,147 million, other expenses of $9 million, and income taxes of $59 million. Assume depreciation and amortization affect operating expenses and that other noncash items affect other expenses. The company's statement of cash flows, prepared under the indirect method, also contained the following itmes...
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- Spring '09