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a . Investment revenue includes Arduous Company's $ 2 5 million share of the net income of Demur Company, an equity method investee. b .

a. Investment revenue includes Arduous Company's $25 million share of the net income of Demur Company, an equity method investee.
b. Treasury bills were sold during 2024 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
c. Equipment originally costing $108 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $20 million.
d. Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $22 million.
e. The preferred stock of Tory Corporation was purchased for $44 million as a long-term investment.
f. Land costing $66 million was acquired by issuing $33 million cash and a 10%, four-year, $33 million note payable to the seller.
g. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $107 million. Annual lease payments of $6 million are paid at the beginning of each year starting January 1,2024.
h. $79 million of bonds were retired at maturity.
i. In February, Arduous issued a stock dividend (11.6 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.
j. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $28 million.
Required:
Prepare the statement of cash flows for Arduous Company using the indirect method.
Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e.,10,000,000 should be entered as 10).
Answer is not complete.
ARDUOUS COMPANY
ARDUOUS COMPANY
Comparative Balance Sheets
December 31,2024 and 2023
($ in millions)
\table[[Assets,,,],[Cash,,$ 142,$100
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