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 $ 40 $ 148 Accounts receivable 200 148 Prepaid insurance Inventory 12 9 300 191 Buildings and equipment Less: Accumulated depreciation 432 366 (135) (256) $ 849 $ 606 Liabilities Accounts payable $ 103 $ 132 Accrued liabilities 11 19 Notes payable 76 0 Bonds payable 189 0 Shareholders' Equity Common stock 416 416 Retained earnings 54 39 $849 $ 606 RED, INC. Statement of Income For Year Ended December 31, 2021 Revenues ($ in millions) Sales revenue Expenses Cost of goods sold Depreciation expense Operating expenses Net income $1,467 41 $2,200 601 2,109 $ 91 a. During 2021, $246 million of equipment was purchased to replace $180 million of equipment (90% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $76 million, it was necessary for Red to borrow $76 million from its bank. Required: Prepare the statement of cash flows for Red, Inc., using the Indirect method to report operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) RED, INC. Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities Net cash flows from operating activities $ 0 Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities 0 Changes in operating assets and liabilities: Net cash flows from operating activities $ Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 0 0 $ 0 0