Comparative balance sheets for $2024$ and $2023,$ a statement of income for $2024,$ and additional information from the

accounting records of Red, Incorporated, are provided below:Additional information from the accounting records:

a$.$ During $2024,$$$246\mathrm{.}0$ million of equipment was purchased to replace $$180\mathrm{.}0$ million of equipment

depreciated$)$ sold at book value.

b$.$ In order to maintain the usual policy of paying cash dividends of $$100\mathrm{.}0$ million, it was necessary for Red to borrow

$$100\mathrm{.}0$ million from its bank.Required:

Prepare the statement of cash flows $($direct method$)$ for Red, Incorporated. Use the T$-$account method to assist in your analysis. Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

$\backslash$table$[[$RED$,$ INCORPORATED$],[$Statement of Cash Flows,$],[$Cash flows from operating activities:,,$],[$Cash inflows:,,$],[$From customers,,$],[$Cash outflows:,,$],[,,],[,,],[,,],[$Net cash flows from operating activities,,$]]\backslash$table$[[$Net cash flows from operating activities,$$,0\mathrm{.}0],[$Cash flows from investing activities:$],[$r$],[\backslash$bar $($x$)],[\backslash$bar $($x$)],[$Net cash flows from investing activities,,$0\mathrm{.}0],[$Cash flows from financing activities:$],[,,],[,,],[?],[,,],[$Net cash flows from financing activities,,$0\mathrm{.}0],[$Net increase $($decrease$)$ in cash,,$0\mathrm{.}0],[$Cash balance, January $1],[$Cash balance, December $31,$$$,0\mathrm{.}0]]$