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. RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) 2021 2020 Assets Cash $ 41 $ 165 Accounts receivable 192 149 Prepaid insurance 15 8 Inventory 319 192 Buildings and equipment 434 367 Less: Accumulated depreciation (136) (257) $ 865 $ 624 Liabilities Accounts payable $ 104 $ 134 Accrued liabilities 14 20 Notes payable 67 0 Bonds payable 178 0 Shareholders' Equity Common stock 417 417 Retained earnings 85 53 $ 865 $ 624 RED, INC. Statement of Income For Year Ended December 31, 2021 ($ in millions) Revenues Sales revenue $ 2,170 Expenses Cost of goods sold $1,469 Depreciation expense 69 Operating expenses 533 2,071 Net income $ 99 Additional information from the accounting records: a. During 2021, $267 million of equipment was purchased to replace $200 million of equipment (95% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $67 million, it was necessary for Red to borrow $67 million from its bank. Required: Prepare the statement of cash flows of Red, Inc., using the direct method to report operating activities. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) RED, INC. Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Cash inflows: Cash outflows: $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 $ 0