Comparative balance sheets for 2021 and 2020 , a statement of income for 2021 , and additional information from the accounting records of Red, Inc., are provided below. Additional information from the accounting records: a. During 2021,$230 million of equipment was purchased to replace $180 million of equipment (95\% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $50 million, it was necessary for Red to borrow $50 million from its bank. Required: Prepare the statement of cash flows for Red, Inc., using the indirect method to report operating activities. (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).) RED, INC. Statement of Cash Flows For year ended December 31, 2021 (\$ in millions) Cash flows from operating activities: Net income Adjustments for noncash effects: Depreciation expense Changes in operating assets and liabilities: Increase in accounts receivable Increase in prepaid insurance Increase in inventory Decrease in accounts payable Decrease in accrued liabilities Net cash flows from operating activities Cash flows from investing activities: Sale of equipment Purchase of equipment Net cash flows from investing activities Cash flows from financing activities: Issuance of note payable Issuance of bonds payable Payment of dividends Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 $0