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8 Portions of the financial statements for Myrlad Products are provided below MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 28118 (s
8 Portions of the financial statements for Myrlad Products are provided below MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 28118 (s in millions) s 760 228 532 Sales Cost of goods sold Gross margin Salaries expense Depreciation expense Patent amortization expense Interest expense Loss on sale of land Income before taxes $115 84 5 24 232 388 158 s 158 Income tax expense Net Income MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2617 (s in millions) Year 28182817 Change $126$116 1e cash Accounts receivable Inventory Accounts payable Salaries payable Interest payablie Income taxes payable 256 466 166 1e2 36 26 (17) (18) 239 448 188 14 (14) 13 1e 41 56 Required: Prepare the cash flows from operating activitles section of the statement of cash flows for Myrlad Products Company using the direct method. (Amounts to be deducted should be Indicated with e mlnus sign. Enter your answers In millions (L.e., 10,000,000 should be entered as 10).) (S in millions) Cash Flows from Operating Activities: Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for interest Cash paid for income taxes Net cash fows from operating activities
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