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 million) 2021 2020 Assets Cash $0 $165 Accounts receivable 192 149 Prepaid insurance 15 Inventory 319 192 Boildings and equipment 434 367 Lasst Accumulated depreciation (136). (257) $365 $ 620 Liabilities Accounts payable 3.104 $14 Acerved liabilities 14 20 Notes payable 67 honde payable 170 e Shareholders' quity Common stock 417 17 Retained earning 25 53 865 3.624 RIED, INC Statement of the Yor Year Ended December 31, 2021 in o) Sales revenue 12.170 penses Cost of goods sold 31,465 Depreciation expense 69 Operating expense 533 2.071 Net Inc 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 (l.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 (s in millions) Cash flows from operating activities Cash inflows Cash outflows Ner cash flows from operating activities Cash flows from investing activities Not cash flows from investing ac vicios Cash flows from financing activities: statement of cash flows For year ended December 31, 2021 (5 in millions) Cash flows from operating activities: Cash inflows: Cash outflows: Not cash flows from operating activities Cash flows from investing activities: Not 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 Cosh balance, December 31