2 of 2 HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $1,000 Cost of goods sold 409 Gross margin 600 Operating expenses: Salaries $ 242 Depreciation 200 Loss on sale of land 10 Total operating expenses 452 Operating income 148 Other income (expense): Gain on sale of cash equivalents 4 Interest expense Income before tax 102 Income tax expense 51 Net income $ 51 ats eBook (50) Print References HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2020 Change Cash $ 232 $ 210 $ 22 Accounts receivable 405 441 36 Inventory 880 860 20 Accounts payable 220 254 (34 1 100 2021 Me GLOW 0 W E R T U s D F G I J K K Chapter 21 Homework Saved 4 Part 2 of 2 HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $ 232 $ 210 $ 22 Accounts receivable 405 441 (36) Inventory 880 860 20 Accounts payable 220 254 (34) Salaries payable 190 208 (18) Interest payable 75 60 15 Income tax payable 100 124 (24) 25 points eBook Print References Problem 21-9 (Algo) Part 2 Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye method (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be de with a minus sign.) Cash Flows from Operating Activities the income Prey Not Type here to search Esc F 1 7 FO 1 F10 2 3 $ 4 % 5 * 6 & 7 Q 8 W 9 E R T Y U 0 s D F IG