Ch21 HWA Sawad Help Save & Exit Submit Check my work 4 Portions of the financial statements for Myriad Products are provided below. 2.5 points $ 740 259 481 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 is in millions) Sales Cost of goods sold Gross margin Salaries expense $110 Depreciation expense 82 Amortization expense 5 Interest expense 22 LOSS On sale of land Income before taxes Income tax expense Net Income eBook 223 258 129 Hint $ 129 Print References MYRIAD PRODUCTS COMPANY Selected Accounts from comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $123 $ 114 Accounts receivable 234 253 (19) Inventory 447 464 (17) Accounts payable 175 162 13 Salaries payable 97 100 (13) Interest payable 46 12 Income tax payable 36 24 12 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 (l.e., 10,000,000 should be entered as 10).) ($ In millions) eBook 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).) Hint ($ in millions) Print $ 759 References 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 (123) Net cash flows from operating activities 636