$ 620 217 403 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense Depreciation expense 72 Amortization expense 5 Interest expense 12 Loss on sale of land 3 Income before taxes Income tax expense Net Income $ 85 177 226 113 $ 113 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $108 $104 $ 4 Accounts receivable 224 238 (14) Inventory 442 454 (12) Accounts payable 150 142 8 Salaries payable 82 90 (8) Interest payable 31 24 7 Income tax payable 21 14 7 San Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Answer is not complete. ($ in millions) Cash Flows from Operating Activities: $ 113 72 5 X 3 X Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Answer is not complete. ($ in millions) Cash Flows from Operating Activities: $ 113 72 % 5 X 3 X 14 12 8 X 7 X Cash paid for income taxes Net cash flows from operating activities 234