Comparative balance sheets for 2020 and 2021, a statement of income for 2021, and additional information from the accounting records of Pink Company are provided below. PINK COMPANY Comparative Balance Sheets December 31, 2020 and 2021 ($ in millions) 2020 2021 Assets Cash $ 135 $ 160 Petty cash 12 15 Accounts receivable 35 47 Allowance for uncollectible account (8 ) (6 ) Investment in A Corp 32 0 Investment in B Inc 0 30 Investment in C Ltd 18 18 Fair value adjustment (2 ) 3 Inventory 37 44 Prepaid insurance 12 9 Supplies 18 27 Bond receivable 70 70 Premium on bond receivable 8 6 Land 90 100 Building 200 230 Less: Accumulated depreciation (60 ) (70 ) Equipment 90 120 Less: Accumulated depreciation (36 ) (45 ) $ 651 $ 758 Liabilities Accounts payable $ 45 $ 39 Salaries payable 8 9 Interest payable 4 5 Unearned revenue 20 38 Note payable 200 180 Loan payable 0 45 Owners Equity Common stock 71 80 Contributed capital in excess of par 175 203 Retained earnings 128 179 Dividend 0 (20 ) $ 651 $ 758 PINK COMPANY Statement of Income For Year Ended December 31, 2021 ($ in millions) Revenues Sales revenue $ 410 Expenses Cost of goods sold $ 177 Bad debt expense 7 Insurance expense 31 Supplies expense 46 Depreciation expense 26 Salaries expense 39 Interest expense 11 Utilities expenses 40 377 Income from operations 33 Other income and expenses Bond interest revenue 7 Gain on sale of land 6 Gain on sale of Investment A 8 Loss on sale of equipment (8 ) Unrealized holding gain 5 Total other income and expenses 18 Net income $ 51 Additional information from the accounting records: a) Land that originally cost $18 was sold b) The building has a life of 20 years c) The equipment has a life of 5 years d) Equipment that originally cost $18 was sold e) All new equipment was purchased using the proceeds from a loan for the entire purchase price ($48) Required: Prepare the statement of cash flows of Pink Company using the direct method to report operating activities. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)