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 62 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 $, bank. Required: Prepare the statement of cash flows for Red, Inc., using the indirect method to report operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) .) RED, INC. Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Adjustments for noncash effects. Changes in operating assets and Babies! 0 Net cash flows from operating activities Cash flows from investing activities: 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